Income from ipo - how is it taxed ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 October 2017
Sir,
Suppose,
An individual has income from bank interest and FD interest .
In addition to this, he had applied for shares in some IPOs in share-stock market.
He had been allotted shares in some IPOs, and he made some profit, from selling these shares.
He has no any salary income, business income or any other income, other than mentioned above.
Que. 1 : How the income from IPOs, is taxed ?
Que. 2 : Which ITR Form he has to use, to file his Income tax return? Can he use ITR-1?
Please, guide.
Thanks.
Suppose,
An individual has income from bank interest and FD interest .
In addition to this, he had applied for shares in some IPOs in share-stock market.
He had been allotted shares in some IPOs, and he made some profit, from selling these shares.
He has no any salary income, business income or any other income, other than mentioned above.
Que. 1 : How the income from IPOs, is taxed ?
Que. 2 : Which ITR Form he has to use, to file his Income tax return? Can he use ITR-1?
Please, guide.
Thanks.
Ashiwini Ballodia
(Expert)
09 October 2017
1) IPO will be taxable under Capital Gain
2) ITR 2 to be used because you have Capital Gain
Message likes :
1 times
K Srinivas, CMA CS
(Expert)
10 October 2017
I agree with Ashiwini Ji.
Listing gains from IPO will be treated as short term capital gains and tax will be paid accordingly.
ITR2 will be appropriate as you need to report capital gains in your return
Listing gains from IPO will be treated as short term capital gains and tax will be paid accordingly.
ITR2 will be appropriate as you need to report capital gains in your return
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
