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Profit on sale of shares alloted in IPO

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Self Employeed
169 Points Posted on 30 April 2022
I have applied for IPO of my family member.
Amount for IPO alloted was deducted from my bank account and IPO was alloted to my family member further sale of shares alloted was from family member demat account in this who liable for STCG???
As money was deducted from my bank account.
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On 30 April 2022 at 11:09 Report
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SEO Sai Gr. Hosp.
211624 Points Posted on 30 April 2022

The allottee of shares (your family member).

You can take back your loan amount.

581 Reply
On 30 April 2022 at 11:11
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Self Employeed
169 Points Posted on 30 April 2022
What if i take profit also from IPO earned from my family member to my account
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On 30 April 2022 at 11:22
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SEO Sai Gr. Hosp.
211624 Points Posted on 30 April 2022

You cannot take, as you were not the owner of the shares.

581 Reply
On 30 April 2022 at 11:24
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Self Employeed
169 Points Posted on 30 April 2022
I sold those shares of family member and got the amount released from demat account into my family member bank account and then i took the entire amount from their bank to my bank
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On 30 April 2022 at 11:27
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SEO Sai Gr. Hosp.
211624 Points Posted on 30 April 2022

That doesn't transfer the STCG liability over the owner/seller of the shares. 

581 Reply
On 30 April 2022 at 11:29
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Self Employeed
169 Points Posted on 30 April 2022
Ok got it that what i wanted to know whether it will be taxable in family member hand or my hand bcoz i took back the entire amount including profit
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On 30 April 2022 at 11:32
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CFO- at NHTF
58280 Points Posted on 30 April 2022
It is taxable in the hands of your family member
59 Reply
On 30 April 2022 at 22:21


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