Friends ,
I will start trading with 30 lac account mostly in futures and Option . Iam pretty sure I will make 25 % consistently every month as I have experience handling 10 lac account with similar returns .Iam currently doing trading in my wife's account and don't want to mix it up with my income .
It is almost 30 % that goes as tax . Is there any benefit if I start a company with my immediate family members with this capital which is into the business of only trading .i need to know the tax implications when trading under a registered company . Do I need to open an office and have few employees .Should I take money from the company as monthly salary and dividend ? Iam confused on all these aspects .
Your response is greatly appreciated
Regards
I suggest you to open a proprietary firm as there are more tax benefits available under the head business and profession, wherein you can get the deduction of the expenses i.e. salary , interest on capital, bills, rent and repairs and various other general deductions.
Please concern your CA, he would suggest you more options to save taxes.
