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Income tax related to shares profit

This query is : Resolved 
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(Querist)
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.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
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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