Shares transaction money pooled from friends
This query is : Resolved
Kollipara Sundaraiah
(Querist)
26 April 2022
Sir,
A it person some shares transaction money pooled from friends and relatives received through on online mode.
Question:
1.Money pooled from friends and relatives
transaction show procedure in it act.
2.money received amount minimum and maximum rate interest paid in it act.
3.tax applicable on pooled money amount.
A it person some shares transaction money pooled from friends and relatives received through on online mode.
Question:
1.Money pooled from friends and relatives
transaction show procedure in it act.
2.money received amount minimum and maximum rate interest paid in it act.
3.tax applicable on pooled money amount.
30 April 2022
1. Declare it as loan (need to be confirmed by payee)
2. Near about bank landing rates.
3. Tax applicable to interest income received by loan payee.
2. Near about bank landing rates.
3. Tax applicable to interest income received by loan payee.
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