I have registered a LLP company which will be involved in buying and selling of listed equities. However as the opening of DEMAT account was taking time, I bought some shares on my personal account. Now when the DEMAT/Trading account has been opened, I would like to transfer the shares from my personal demat account to company’s demat account and I would take out buying cost of shares from company’s current account. My questions are
1) Is this possible?
2) What are the Tax implications?
CAclubindia
