Suppose my sis pays me X amount a month to manage her portfolio.
Can she claim these expenses for IT calculation?
I manage her complete portfolio and thus she saves hell lot of time…
Suppose my sis pays me X amount a month to manage her portfolio.
Can she claim these expenses for IT calculation?
I manage her complete portfolio and thus she saves hell lot of time…
She is your sister ya…it is her right to make you do the work…
Disc: This is on a lighter note, no hard feelings…
It’s technically illegal per SEBI, so while you can do it off the books, you can’t show it as an expense.
Peruse this thread for more discussions on this topic…
I manage her trading account without transferring funds into my savings account.
Is it still illegal?
Yup but this way she could save tax, 30% tax kills your piggy bank
Hey, I’m not a CA or a lawyer, so I can only tell you what I have read on this topic.
But here’s an article by Quicko…
So, since she can’t claim an expense for your trading for her, maybe you can be a “consultant” and charge her consulting fees… I’m just thinking out of the box here - pure speculation
Pls check with a CA AND a lawyer…
I have 3 elder sisters… I know where ur coming from