Hello, I have 2 situations I need help with.
A. I work as a remote freelancer for different foreign clients and have the option to receive payments in any bank account in India.
Can I receive some salary in my family member’s bank account to avoid the 50 Lakh 44ADA limit? Is it legal?
What if I form HUF or partnership and receive a salary in that account? Is it legal?
B. I also trade in the stock market. Let’s assume I will have a very successful FY 21-22 in the stock market.
- Can I create a bank/broker account on behalf of my family members (sibling, mother) and trade using it by transferring money from my bank account to there and from there to the broker’s account? This way I will get lower tax slabs since they earn less very little money. Is it legal?