Tax Liability on Joint Trading Accounts

Originally posted by : sudhir rawal
	in your case one demat cannot be having two holder at one time thier must be one nominee in your this query  and  when the all the income is in the name of first holder then the first holder will liable to pay tax

I agree with Mr. Sudhir.....

I have read somewhere that income from joint trading is treated as income of BOI, body of individuals, don't know whether I am right or wrong. But then if I want to do trading in joint with some one whats the process??

how can I do trading by forming a BOI ?( body of individuals

joint accounts means nothing but normal accounts, 1st holder is sole, and balance are-co owners, 

all profits and gains / taxes are routed to 1st holder only. 

for BOI/AOP/Partnership accounts, one have to apply fresh pan in pattern of execution, and open account accordingly. 

"For BOI/AOP/Partnership accounts, one have to apply fresh pan in pattern of execution, and open account accordingly"

Please tell me the process to apply PAN and once I receive PAN , how to tell broker that we want to open account in name of AOP. Further demat will be opened in name of AOP or individual ??

I spoke to brokers but they are not having enough knowledge for the same and even their account opening forms dont have such facility.

after getting pan, open the demat 1st with new pan 

for trading account pan number will be same but execution person will be one person, balance persons will authorize him to operate 

ask your broker to follow the HUF procedure to open the account.