capital gain
This query is : Resolved
25 January 2011
My fried made some profit through my D-Mat A/c. Because i was doing trading on behalf of my friend in my A/c.
Prob.- How i can segregate this amount at the time of return filing? Means how i can show that its my friend profit. (He is ready to accept it)
Prob.- How i can segregate this amount at the time of return filing? Means how i can show that its my friend profit. (He is ready to accept it)
25 January 2011
Never do this kind of business. It is very difficult to prove that the gain is earned by your friend. The Income tax officer will never accept.
If your friend has paid for the Purchase of shares from his own bank, in this case it can be proved otherwise you become ready to pay tax on that.
If your friend has paid for the Purchase of shares from his own bank, in this case it can be proved otherwise you become ready to pay tax on that.
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