Govt employee and demat account

[Mr grewal]

is govt emplyoees are allowed to open demat account. If yes then can we do trading also. And if trading is not allowed can be do SIP. And i also want to know if a govt emplyoee want to invest in stock market on daily basis or weekly basis, but he will only invest the money and hold it. So he is not doing trading. He hold for for long period like 10-15 years but invest daily or weekly in small amounts. It is allowed for govt emplyoee

 

[A.Chatterjee]

Share trading is allowed for govt employee. After joining, the employee need to submit the details of his movable and immovable assets. After that investing with in legal income is absolutely fine. Please file ITR regularly even if you are not in the income tax bracket to track the record. If you continue to invest and hold for long you will certainly get dividend. Dividend is also taxable above 40k. So track dividend also. Easy way to track it is make a completely new (zero balance, NACH charges free) account. Now if any lokpal or lokayukta enquiry starts against you, you are ready with documents submitted under section 44 Lokayukta act, ITR copy, eCAS, Bank Statement