banner_ad

Help me in doing this correctly.

ITR 209 views 4 replies

Hi,

So I have the following :

I sold a property for X amount And received the proceeds in my accounts.(Sep 2018) Subsequently I transferred the entire proceed into a join account I have with my mother.

Later the same amount was used for investing and trading via her brokerage account and resulted in the loss of capital. She is retired and her returns have been filed regularly.

How should this be treated?

Replies (4)
File her income tax return and show the loss from intraday or short term accordingly.

Do I need to show a loan from my account etc in the tax return?

Yes. in case you are required to get income tax audit done,then the same has to be accounted as a loan in balance sheet

Could you please check your private message? Thank you.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 April 2026
Chartered Accountant

Source HR

Mumbai

CA

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
27 April 2026
Senior Accountant

Jyoti K agarwal & co

Mumbai

Others

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 02 May 2026
Accounts and Audit Assistant

Kothawade and Laddha

Thane

B.Com

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details