SEBI ED ITD GST check for Stock Market Trading
3 years ago
Hi, I have started online trading in others trading accounts Authorized by account holders through a Trade Account Management Software. For this, I am charging upto 50% profit sharing via bank transfer. There won't b any written agreement, only verbally consent. And I am planning to file ITR as professional fees/ software fees/ consulting fee/ technical support fees to show my income sources as well as get GST registration. Now, I just wanted to know whether this working model would break any legal law, Taxation laws or bye laws of any govering bodies like SEBI, ED, ITD, GST, or Exchanges like NSE BSE MCX in any way. I need a complete legal guidence and solutions in this matter so that I can execute this model in smooth way. Thank you.
You may approach experienced chartered accountant or financial advisor.
this is an alarming situation. its a challenge to prove the verbal expressions/ contracts, so we advice you to get the contents legally drafted and have a written document rather than relying only on verbal expression.
since the little piece of information is not sufficient for us, we advice you may contact us for a detailed explanation.
Ayantika Mondal @ Prime Legal
Responded 3 years ago
this is a big step, verbally consenting for it might lead you in trouble.
it is advisable to make things in writing so that your interest is protected in future and you may present evidences if required in case of any mis-happening.
Ankur Goel @ Complete Law Shield
Responded 3 years ago
50% profit sharing via bank transfer. There won't b any written agreement, only verbally consent.
invitation to litigation and criminal cases.
Hope this clarifies,
Advocate Ankur Goel (Complete Law Shield)
#YourLifeYourChoice
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