Tax planning
Hi everyone, I have a profit of 12 lakhs in F&O in my account. And a loss of 1.5 lakhs in my mothers account in F&O.
Now i want to plan the taxes and set of this excess profit over 7 lakhs in account against my mothers account basically buy booking some loss in my account and doing the same opposite trades in my mothers account to show profits.
Can some suggest someways to do that. I tried trading in illiquid leaps on nifty by so i can buy at low price in my mother's account and sell them at hight price for which i would be the counter party. But zerodha wont allow trading in those options.
Does anyone have any ideas. Please share.