I started a new bussiness. I implement ideas of Stock traders with my money on my Share trading account. On success i pay them fixed % of profit. I am getting good success as per bussiness and want to expand it leagally.
I have two optional plans and want legal advice on them.
Plan 1:
I will be continue trading on my account. While paying traders, I will get a note of acceptance of amount with thier sign etc.
Plan 2 :
I will register a sole propritership and get a trading account and a bank account on comapny name. Finally showing all deduction on employee salary etc.
I want a legal method in which myself or company should be taxed only on the net profit (Profit from trading - Salary to traders)
25 July 2013
You should trade in the name of the propreitorship firm's name and the bank account should also be opened in the same name from where all payments can be made by you. There should be an agreement with the parent comapny and your propreitrship concern
CAclubindia
