Comment on Business Line: Read Section 44AD when filing return

Dear sir

I m currently in F&O actively. I have demat account in my personal Name. But sir now i have two friends who want(I also) to make partnership with them. But somebody told me that A Partnership Firm cannot be a member of a company (i.e. can’t held shares in the name of partnership firm).
1.There is any problem in future due to Demat A/c which is in My personal Name ?
2. Can i continue with same Demat alongwith Partnership Deed?
3. Is it neccessary to open firm & Demat A/c In the name of the Firm?
4. Please guide me What is the Tax consequences in all the above cases.

Thanks in Advance

View the full comment thread »