Income tax related to shares profit
This query is : Resolved
13 October 2022
Am I allowed to send money to a friend who will with his Demat account buy stocks and return me the profits via online transfer(netbanking/UPI).
Is this legal and how much tax will I have to pay and under what am i supposed to show this in Income tax filing.
Is this legal and how much tax will I have to pay and under what am i supposed to show this in Income tax filing.
14 October 2022
Legally he will have to pay tax over any profits, while when he gifts the money back to you, it will be taxable in your hands.
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