Income from other source

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2017 Dear Experts

I have a dout so need your help

I have completed B.com, 1'm working in one company as accountant and also free time I'm trading in equity cash , now i m planning to open one website and give call to customer and I m plan collect 5000 per month from them. if i do this compulsory need licence or can show this in income tax as commission from income from other tax head? please rectify my above issue

Regards

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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19 March 2017 You have not specified nature of collection of Rs.5000/- by way of accounting service or What is nature of income?

Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2017 I will provide intraday call tips (which share have buy and sell) through whats app to traders and collect 5000 every month from them...

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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19 March 2017 It's come under professional services, not under commission.

Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2017 For start this work need any registration in MINISTRY OF CORPORATE AFFAIRS and need any qualification

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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19 March 2017 Not required, no prescribed qualification is required to give tips for intra day, you should have Knowledge about the company performance and previous track record, you should do analysis of Maximum and minimum amount for which share can be traded,

Querist : Anonymous

Querist : Anonymous (Querist)

19 March 2017 should i open current account for this?