Dealing in derivatives
This query is : Resolved
PRAMOD KUMAR
(Querist)
21 August 2010
Dear All,
I want to know whether a student undergoing articleship can trade in futures and options segment, since as per the Income tax Act, Profit/Loss from this activity will be treated as Business Income.Loss.
Also can he be a sleeping partner in any partnership firm?
Thanks
Pramod
I want to know whether a student undergoing articleship can trade in futures and options segment, since as per the Income tax Act, Profit/Loss from this activity will be treated as Business Income.Loss.
Also can he be a sleeping partner in any partnership firm?
Thanks
Pramod
Aditya Maheshwari
(Expert)
21 August 2010
Trading in shares and F & O can be done but if the same could be avoided or done in someones else name like mothers name will be preferable.
To be a sleeping partner in a firm form 112 needs to be filed with the institute.
To be a sleeping partner in a firm form 112 needs to be filed with the institute.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
