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Trading account

Munna (Others) (24 Points)

23 June 2015

Hi, My sister and I wish to open a trading account jointly, So do I need to apply for a AOP, or BOI for doing that ..

One more doubt for me is,

Consider account is opened in the name of one person, will there be any legal problems(including IT), if we share the profit among us?

Thanks.

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3 Replies

BHAVESH RAJPAL (B.COM, M.COM, CA FINAL) (204 Points)
Replied 08 July 2015

U can open A/c in joint names, no need of AOP/BOI Only 1st name person has 2 show P/L in its ITR

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Vijay Lodha (Owner) (36 Points)
Replied 25 November 2015

Any ca, tax consultant or accountant can do complete accounting of stock market transactions in 3 hours max, irrespective of turnover, with the help of attached reports. All the required information is given in the covering letter. For any queries feel free to contact me.

Attached File : 1146022 20151125165912 share accounting reports.zip downloaded: 219 times

SHRMONEY (solve legal finance problems - shrmoney@gmail.com) (148 Points)
Replied 25 December 2015

SHARE TRADING SIMPLIFIED FOR REGULAR PROFITS.

We will guide you to make a new IT assessment unit in legal manner so that all your profits from share market are not clubbed to your personal income.

You will get basic exemption in new account and further profits will be assessed at lower rates.

You can take benefit of fresh limits such as up to 1.5 lacks investment in ELSS and similar others.

So we will get you PANCARD for new unit , open an account with a bank and than with a share broker and start trading.

We will also show you simple methods to earn about five hundred to one thousand daily or an investment of about one lac. Your investment will double in a year after meeting all expanses.