Comment on Taxation Simplified

Nithin Kamath commented on 09 Mar 2013, 08:50 AM

Amit, this is a tricky situation and upto you on how you would want to take it forward.
The profit in any case can be net off against your trading losses, so shouldn’t be any issues to show it on your books…

Exchanges/regulators, consider it as a money laundering, if someone gives you cash and you buy stocks on the exchanges on his behalf. In your case if the other guy transferred money to you which was invested into stocks then it is alright, but in any case try to refrain from such activity. Best thing would be to tell your friend about Zerodha and get him to open an account with us, which we will in a jiffy.. :)..

Cheers

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