Comment on Taxation for Traders - Introduction

Hi,

First, I would like to apreciate zerodha”s endeviour in this direction. This will be a great help for small traders.

My query :

I am planning to invite deposits from my relative and friends in my savings a/c and invest the amt in the market(F&O intraday). On completion of one year I’ll return their principle amt. along with 15% interest return. Whatever above 15% i make is my profit.

Questions:
1) Is above legal and how i can calculate my taxable income from above?

2) Whether i can invite deposits from others who are not my relatives and friends?

Thanks….

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