Fathers PAN Card

I want to use my father’s pan card for investing to save taxes since I come under 30% tax slab.

Would I also need to use his name in account, and what other things I should know before doing this?

11mo ago

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DancingTaco

Stealth11mo

Taxes on short term capital and long term capital are independent of salary. Even if your father earns 0 rs, he will be liable to pay capital gains tax if he is investing in stock markets.

QuirkyNugget

Stealth11mo

Underrated comment. Make sure the investments are in things like FDs for this to make sense for you.

WigglySushi

Stealth11mo

@StormKeeper 😮😮⚡️

WigglySushi

Stealth11mo

Would I also need to do kyc in his name?

SparklyPanda

Jio11mo

Everything in his name. Just keep yourself as nominee.

DancingTaco

Stealth11mo

@Misc_ - I would suggest not to complicate things for a few thousand rupees of tax savings. Do it in your name so that you have 100pc ownership of the money.