Hi all,
Is is it possible/allowed to invest(20%) of retirement money received by my father under my demat account.Any pointers would be really helpful.
PS:My father is not intending to open an demat/trading account,but wants to explore investing in MF through family members account.
To invest in MF you don’t really nead a demat/trading account.
True… we dont need demat to invest in MF,but my question is can we invest fathers money against our PAN/name and if so will we face any scrutiny by I.T dept. ??
Show the amt as gift from fathrr
No tax will be there
Make sure u file returns next year
That’s it
You’ll have to pay taxes in ur returns against any profits that may be made (if your profits are short term)