Correction in AIS to avoid increasing compliance
This query is : Resolved
05 June 2025
Dear Sir,
I had applied for the SME IPO of Parameshwar Metals in the HNI category, my application amount was 19,52,0000 as I applied for 16 lots (1 lot=2000 shares, price 61/share) but was not allocated any shares. Still it is being displayed in my Annual Information Statement and it is adding up to the buy column in the TIS (Tax Information Summary). If this thing goes on like this for other IPOs as well,then buy column total would become in several crores.
My question is, that even though I was not allocated any shares(had applied via ASBA), why is this being reported to the AIS and increasing compliance for us?
Is this legitimate or should we mark any feedback for this in AIS ? Gross amount received and Gross amount paid cancels out each other anyway. It was not the case in previous financial years.
I had applied for the SME IPO of Parameshwar Metals in the HNI category, my application amount was 19,52,0000 as I applied for 16 lots (1 lot=2000 shares, price 61/share) but was not allocated any shares. Still it is being displayed in my Annual Information Statement and it is adding up to the buy column in the TIS (Tax Information Summary). If this thing goes on like this for other IPOs as well,then buy column total would become in several crores.
My question is, that even though I was not allocated any shares(had applied via ASBA), why is this being reported to the AIS and increasing compliance for us?
Is this legitimate or should we mark any feedback for this in AIS ? Gross amount received and Gross amount paid cancels out each other anyway. It was not the case in previous financial years.
06 June 2025
File feedback.... as incorrect data...
07 June 2025
Sir,
Thank you very much as usual. There is no option as... incorrect data, among all options available in feedback, option relevant to this problem is...... information is denied and...... information is not fully correct.
So should I file ..... information is denied. ?
Also nowadays ITD would share the feedback with information source for confirmation.
I had applied in the ipo with this money but I don't know how the information source reported applied shares with the application money as purchase as nothing was allotted to me,so how can this become a purchase?
Application to IPO doesn't mean purchase of share.
So, can I file feedback as.... information is denied comfortably or it may escalate to any other complications in future Sir. ?
Thanks
Thank you very much as usual. There is no option as... incorrect data, among all options available in feedback, option relevant to this problem is...... information is denied and...... information is not fully correct.
So should I file ..... information is denied. ?
Also nowadays ITD would share the feedback with information source for confirmation.
I had applied in the ipo with this money but I don't know how the information source reported applied shares with the application money as purchase as nothing was allotted to me,so how can this become a purchase?
Application to IPO doesn't mean purchase of share.
So, can I file feedback as.... information is denied comfortably or it may escalate to any other complications in future Sir. ?
Thanks
07 June 2025
You are right... go for its denial.
07 June 2025
Thanks Sir for your kind reply
07 June 2025
You are welcome.
08 June 2025
Sir,sorry to bother you again. Just the following idea came into my mind.
In the case of an IPO, funds were blocked for 3 days, which basically means I paid the company and got refunded back.
But, because there was no allotment of shares, no capital gain tax would come into the picture but no purchase has happened either.
So,would this be prudent to file feedback as.... information is denied or it may create complications later as we are dealing with ITD. But at the same time, it has been added in TIS purchase column increasing compliance and problem for me, I'm confused and tensed,
Thanks
In the case of an IPO, funds were blocked for 3 days, which basically means I paid the company and got refunded back.
But, because there was no allotment of shares, no capital gain tax would come into the picture but no purchase has happened either.
So,would this be prudent to file feedback as.... information is denied or it may create complications later as we are dealing with ITD. But at the same time, it has been added in TIS purchase column increasing compliance and problem for me, I'm confused and tensed,
Thanks
08 June 2025
If the value in the AIS is more than 0 (zero) file feedback; otherwise no issue.
08 June 2025
Sir,
Actually SFT-008 is Receipt from any person of an amount aggregating to ten lakh rupees or more in a financial year for acquiring shares (including share application money) issued by the company.
So don't know why Information Category in SFT is showing as purchase instead of receipt. Purchase code is SFT-017 not 008.
Also please let me know which value in AIS you are talking about Sir.
Thanks
Actually SFT-008 is Receipt from any person of an amount aggregating to ten lakh rupees or more in a financial year for acquiring shares (including share application money) issued by the company.
So don't know why Information Category in SFT is showing as purchase instead of receipt. Purchase code is SFT-017 not 008.
Also please let me know which value in AIS you are talking about Sir.
Thanks
08 June 2025
Download the AIS report, it will give the value of the transaction.
08 June 2025
Sir,
Gross amount received from the person 19,52,000
Gross amount paid to the person. 19,52,000
But Purchase amount is 19,52,000 which is getting reflected under purchase of securities and units of mutual fund SFT information and getting added with other purchases.
I can't attach files here otherwise I would have attached screenshot for better understanding,
Thanks
Gross amount received from the person 19,52,000
Gross amount paid to the person. 19,52,000
But Purchase amount is 19,52,000 which is getting reflected under purchase of securities and units of mutual fund SFT information and getting added with other purchases.
I can't attach files here otherwise I would have attached screenshot for better understanding,
Thanks
08 June 2025
Just file feedback and deny the transaction.
08 June 2025
Thank you very much sir
08 June 2025
You are welcome.
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