If an application in an IPO a persom apply and let application of Rs. 100000/- and in meanwhile he trasferred his supposed right to second person suppose at Rs. 5000/-as on today and suppose in future he will receive allotment of Rs. 35000/- then he will further recover from the second person above 35000/- ie on that day his sales consideration will be equal to Cost now in which head this 5000/- will be taxable?As Business Income or Other Siurces?
But please consider these points further:
1) As on today when person is selling at Rs. 5000 it is not sure that whether he will receive or not Shares.
CAclubindia
