Comment on Account Opening Process - Corporate,Partnership Firm, & HUF
commented on
24 Dec 2014, 05:21 PM
Deepak, yes you can open an account as LLP or partnership.
Personally don’t think it makes sense to run it as an LLP just because your turnover is higher. Turnover in stock markets is not like real life business, so if your turnover using one account is high, it mostly likely will be high even if you distribute it into two accounts. You will now have additional burden of paying the CA fees for two accounts.
Also turnover for IT is not your contract turnover, check this post on everything you need to know about taxation while trading the markets.