I am planning to use my father's demat account for share trading. My father is a pentioner and don't have any tax to pay.
So I am planning as follows:
1. transfer my money to father's account.
2. Do share trading from father's demat account.
3. since his income is low he don't have to pay taxes on his income on shares.
4. transfer back the net amount to my account from father's account.
Can I save some tax this way? is there any catch?
I think since father is in blood relationship to me he need not to pay tax when I send money to him or I need not to pay tax when I got money from him. Please confirm.
