hi all !
I started trading on my brothers account...my brother has shown his income tax through his deparment earnings...as he has government job in educational department.
my problem is ...although he has pan card ...and on which i am trading ...he didn't mention anything about trading in his incometax returns.
pan card taken just an year back for trading...and as far as i know ...that all expenses and earnings through trading should have been specified in his march incomtax. ..unknowingly he didn't do that .
so what should i do now ...what are the options available ..and what approach should i follow...and how.?
we are completely new to this tax issues...please suggest me .
trading type is intraday and delivary based short term that is few weeks to one or two months.
Thanks
I started trading on my brothers account...my brother has shown his income tax through his deparment earnings...as he has government job in educational department.
my problem is ...although he has pan card ...and on which i am trading ...he didn't mention anything about trading in his incometax returns.
pan card taken just an year back for trading...and as far as i know ...that all expenses and earnings through trading should have been specified in his march incomtax. ..unknowingly he didn't do that .
so what should i do now ...what are the options available ..and what approach should i follow...and how.?
we are completely new to this tax issues...please suggest me .
trading type is intraday and delivary based short term that is few weeks to one or two months.
Thanks
