Tax Implication

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.

Replies (1)
The person can sell the shares on allotment. Even parttially paid shares can be sold. The consideration for him will be Rs. 5000

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