Can i take money from friends to invest in stock market and give them returns.If so,at the time of paying taxes can i show it as money taken as loan from them?
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find ur answer here
http://tradingqna.com/3643/whats-your-view-on-choosing-the-trading-as-a-full-time-career
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@salamiindia sorry but i asked about can i borrow money from friends,i did not ask abt views on choosing trading as full time career.
1.NEVER trade from borrowed funds.
2.ALWAYS have a second source of income.
3.NEVER rely on advisors.
4.ALWAYS indicators doesnt work.
5.NEVER try to recover losses on same day
6.ALWAYS save/invest in FD every month regularly from your profits.
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If anyone can answer?
Have not got the answer yet.
It’s has been 2 years.
What you did these 2 year?
I am not sure about taxes.
But what you can do let me Tell you I do the same things.
Tell your friend to open an Account on his own Name.
And you trade and Invest on his behalf.
As per the Profits you take your Share.
In this way it’s a win win situation for you.
You don’t need to care about Taxes.
I did trading successfully with my own money in these years,now confident about borrowing money from friends and family.
But in my case there are multiple number of investors and It is not possible to operate all those demat accounts.
Okay, Let me tag @anuj he is expert in Tax related Queries.
Please provide your valuable Guidance @anuj.
Thanks
@AR1 As far your question related to the borrowing funds from your friends etc, is allowed as deductible exp from your business income (which will be trading in your case)…tax on your income will be calculated basing on total trading income after deducting all your expense related to this business including interest on such borrowed funds…the answer is purely replying taxation part only…hence this will be your business income
Please send my your email address so that I can discuss more with you,Thanks.