10 May 2012
I have a business idea about stock trading.
I want to know tax and law complication on it.
Idea:
Employees will be having their Demat+ trading account on their respective pan cards. But, they will be doing trading for company and with company money. Whatever profit or loss they incur will be of company. they will be provided with fixed salary and bonus with respect to profit.
In this scene, my queries are:
1. is this legal if employees are made to pay tax on profit incur on thier pancards
2. What will be different taxes if its a small firm and if a big firm
10 May 2012
Your idea is "wonderful" for "tax payable/loss born by employees" for the company but for your surprise; it is illegal. . By the way; may I ask one query ( I presume I also have "right" to ask "unusual" query ) : . What is your qualification ?
CAclubindia
