Trading as a company has issues, check this. You will end up needing an NBFC license.
If you are trying to save on income taxes by dividing trading into your family member accounts, I guess you know that there are potential issues with that as well. Income tax returns have to be filed in their names and there can be scrutiny where they are required to meet the Income-tax officers. I think it is not worth the hassle.
As an individual, the best you can do is to show trading as a business and then claim everything you spend towards trading from your internet bills to cable bills (for watching CNBC ) as an expense.
) as an expense.