Comment on Taxation for Traders - Introduction

kalskumari commented on 02 Jul 2013, 09:45 AM

Hi Sir,

I am a AP state govt. employee.
Could you please let me know can a GOVT. employee trade in commodities and futures and options?
I Read some where that he cant do as per
DoPT OM No. 11013/6/91-Estt. (A) dated 8.4.92 regarding CCS [Conduct] Rules, 1964—Transactions in sale and purchase of shares and debentures etc.

In my case my brother is trading in my trading account for the past 10days in ommodities and F&O.And its turnover is (Total Value of Securities Bought and Sold) above 1 crore.(Now no loss and no profit )

Could you please suggest me What shall i do ? Shall I tell him to stop trading in my account OR let him continue trading in my account?
Also suggest whether i should maintain books and disclose this in IT Return.
Thanks And Regards,
K.A.L.Surya Kumari.

View the full comment thread »