I am doing part time trading.If I have to do trading full time, what procedure I should follow.
Should I name a firm & open bank account in the firm name.
Open the trading account in firm name.
Make a rent agreement in the trading firm name
As per what I read in this forum, you donāt need a firm just to do it full time.
1 Like
Hi @DA3110,
It doesnāt matter if youāre a part-time or full-time trade. You can trade with your personal trading account and bank account. Thereās no need to form a company and/or create separate bank account.
I think people get confused because the income from trading is reported as ābusiness incomeā in the income tax returns. The word ābusinessā is a little misleading because after hearing that, we feel there has to be a ābusinessā or a company first.
The fact is that anyone can trade with their personal account and report the profit/loss under the ābusiness incomeā, without going through the hassle of forming a company.
There are special cases where forming a company would be advisable but for a retail trader who trades with his own money, there is no need for that.
Hope this helpsā¦
-Neha (vrdnation.com)
Thanks
I do not think you need to register or create a firm for trading full time. You can trade with the broker of your choice very easily. There is no hard and fast rule to follow for trading full time as far as I know. Research well before taking any step friend!
1 Like
@SBpat bro that damn nigga bhuvnesh have removed your post,i joined today here in trading qna page ,he already deleted 3 -4 post already ,is he some kind of admin or founder of zerodha something like that
If you find the post have been deleted by the named person then he should be the āBig Bossā. No wonder he masks his real face behind Mr. Warren Buffet.
1 Like