current account for professional trader ?

Smart_trade

Smart_trade

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#2
#2
Re: current account for professiaonal trader ?

vipinenator said:
i am turning in to professional stock trader .so should i have new current account for this.?
presently i am working from my saving account.
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Current or Saving any a/c will do but keep that separate only for trading business transactions.Dont mix up your personal transactions,investments transactions etc in your a/c for trading transactions as it will help in calculating your profit and loss for paying your taxes.Make sure that every entry in the a/c can be explained to yr ITO.Also it is better to have sepatate demat a/c for yr trading and investment securities.

Best Wishes,

Smart_trade
 
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