Easy Office
LCI Learning

Income tax related to shares profit

This query is : Resolved 

13 October 2022 Am I allowed to send money to a friend who will with his Demat account buy stocks and return me the profits via online transfer(netbanking/UPI).
Is this legal and how much tax will I have to pay and under what am i supposed to show this in Income tax filing.

14 October 2022 Legally he will have to pay tax over any profits, while when he gifts the money back to you, it will be taxable in your hands.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query