21 August 2010
Dear All, I want to know whether a student undergoing articleship can trade in futures and options segment, since as per the Income tax Act, Profit/Loss from this activity will be treated as Business Income.Loss. Also can he be a sleeping partner in any partnership firm? Thanks Pramod
21 August 2010
Trading in shares and F & O can be done but if the same could be avoided or done in someones else name like mothers name will be preferable.
To be a sleeping partner in a firm form 112 needs to be filed with the institute.
CAclubindia
