Awfis Space Solutions Limited IPO Message Board (Page 15)

​@AmitBangarwa Check if minor PAN is getting displayed or not first on the bank account, that might be the issue. If not get the minor pan updated.

Don't fill the birth date, it will work.

​@ASIF MOKAMJIWALA Hello, your point is valid. But off-topic discussions generally are limited and sometimes a necessity for interested members. For example, all discussions on Vodafone Idea were happening at dedicated page of Vodafone Idea till 23rd May and as 30 days period of launch of that counter got over, no fresh comments/messages/replies can be made there. As VI has some news updates now, members are posting the same here.
Similarly many a times discussions on other topics like bank, minor account, HUF etc. do appear once in a while. Being open public forum, nothing much can be done about what members post here. One can choose what suits best and ignore the rest !

.

Yes as you earned short term capital gain which is taxed at a flat rate of 15%.

​@NAPSTER Hello, there are few factors to be considered before deciding to deal with taxation and filing of return.
1. What is source of fund that you deployed in IPO. If it is given to you by say parents, gains such earned on it through IPO or secondary markets will fall under clubbing provisions and your parents will need to show the same in their tax returns.
2. If you earned the money yourself and made gains out of it, then you need to compute tax considering earnings (noney that you deployed) plus gains on it and file ITR yourself.
For calculating tax, you may take help of income tax calculator utility from official site of income tax dept.
3. Taxation is applicable on earnings and gains made in full financial year and not just on one transaction.

If you still have doubts, better take professional help (from a competent tax advisor or CA) than posting the same in public forums like this.

Good Luck 🍀

Clubbing provision is applicable only for minor child, @Chhote Lal Ji, since he is already 20 - this income will be taxable income hands of @NAPSTER 

Since income in your hand is more than basis exemption limit of 2.5L, you need to file itr. Pl consult some CA for right advice and return filing

Thank you everyone
I'll take further advice from a CA itself 😊

​@NAPSTER Dear

पहली बात तो ये की आपकी उम्र 20 साल है मतलब अब आप माइनर नहीं रहे तो आपने आईपीओ के लिए जंहा से भी मनी अरेंज की है तो उसका प्रॉफिट लोस्स आपकी खुद की ITR में दिखानी होगी और जो टैक्स बनता है वो आप ही जमा करेंगे I

दूसरी बात ये की अगर आपका प्रॉफिट 250000 से ऊपर है तो ही आपको टेक्स अदा करना है लेकिन इसके अलावा आपकी कोई दूसरी इनकम नहीं होनी चाहिए I

तीसरी बात ये की अगर आप आगे भी शेयर्स की ट्रेडिंग BTST करते रहते हो तो आप टोटल सेल ( डिलीवरी ) को U /S 44 AD में 6 % प्रॉफिट डिक्लेअर करना तो वहाँ आपका टेक्स बहुत ही काम बनेगा क्योकि उस केस में अगर आपकी टोटल नेट इनकम 5 लाख से नीचे रहती है तो आपका टेक्स जीरो बनेगा I

और हाँ ITR तो आपको फाइल ही करना पड़ेगा चाहे शेयर्स ट्रेडिंग से आपका प्रॉफिट 250000 से नीचे ही क्यों नहीं रहा हो ITR फाइल करने से इनकम टैक्स नोटिस के झंझट से बच जाते है I

So Contact to a CA/Tax Adv/Tax Consultants/Accountant

Your query was whether you need to file return or not, so it is mandatory since the yearly profit is more than exemption limit. Being a tax consultant, I would suggest to take an advice from a person you know who have specific knowledge, as there are many provisions to save tax. In case you don't have any known then you may connect me as well . Also, tax is not calculated on a single transaction, income earned during the year and from all sources will be chargeable to tax.

​@Bibhu 
You mentioned : "Clubbing provision is applicable only for minor child"

Is it really true?

Does it mean if someone invests in the name of his/her non-earning
spouse, clubbing provisions are not applicable on income from this investment?

​@Rudra K i did not mean to provide comprehensive list where clubbing is applicable when I said ‘only minor child’

It is applicable for spouse as well!

​@Rudra K Yes clubbing is just for minors, . No clubbing provision for majors, so you can invest in your spouse/ children name ro save on taxes

​@Bibhu  and @Rajatkol 
Both of above replies are contradictory. Isn't it?

Can we have clear rule position on this?

Clubbing is not just for minor's. Section 64 has many things. There is a thin line..if a person transfers his asset in the name of his spouse, directly or indirectly, for an inadequate consideration, the clubbing provision shall apply. if adequate or full consideration is taken, the provisions of clubbing of income do not apply

If you sold shares before 31st March 2024 and there is no other income or gain or loss in financial year 2023-24 then reply is as follows . If your gain is 300k then you have to file ITR but u don't need to pay tax. If your sale value is 300k and gain is less than 250k then it is not compulsory for u to file ITR but it is better if you file. By the way did you apply only one lot in one IPO got allotment and didn't apply in any IPO thereafter? It is not so usually. If you applied in many IPO s but got allotment in one then you better file ITR. If you applied multiple lots in one IPO then you better file ITR. I am neither CA nor tax expert

Please don't forget saving bank interest, FD interest and dividend etc if any

​@NAPSTER  First of all download an app provided by GOI i.e., AIS , which will show details of annual transactions and tax paid.
Second go to incometax site and visit trace.com to find tax deducted on your transactions .
Thirdly use tax calculator from incometax site and follow in the earnings and savings under 80 cc etc too .
Even if your tax due is zero , still file it and close it. No harm
If there is still tax due to you , next time ensure that you have tax saving FD or other instrument to make tax due as zero .

PS- this is prelim steps to avoid visit to CA.
Good luck 🍀

One senior member has suggested using presumptive taxation. In presumptive taxation, if your business income is let us say 8 or 10 percent of turnover then you have to declare 8 or 10 percent as the case may be. But if business income is let us say 3 or 4 percent of turnover then you will have to declare 6 percent because 6 percent is minimum allowed under presumptive taxation. Suppose in one financial year your business income (share trading income) is let us say 6 or 8 percent u can declare 6 or 8 percent under presumptive taxation, as the case may be. What if next financial year your share trading income is less than 6 percent of turnover let us say 2 or 4 percent? Now you will have to either show share trading income @ 6 percent of turnover or u will have to go through audit. Once you opt for presumptive taxation u have to continue it for a minimum period of 5 years. If you want to move away from presumptive taxation u will have to go through audit. Presumptive taxation is good if you don't mind audit

I am neither CA nor a tax expert

​@investormahesh @Rakcyt @Nitesh Aggarwal  @Chhote Lal Well I think I got myself and everyone confused let me clarify 😅

Before 31st March 2024 I did not apply in any ipo nor did I got allotment was just trading options last year(for learing and practising) which made me a loss of 8k in FY 2023-24

Now this year after 31st March 2024 I started applying in ipo's and applied for 2-3 sme ipo's and got allotment in indian emulsifier which made me a gain of 3 lakh and sold it on listing only i.e 22 may 2024
And after 1 April 2024 I also made about 50k in swing trading.

So, as per my understanding now I need to file itr in AY 25-26 Before 31 July 2025 next year depending on my gains of fy 2024-25

Now I have some questions -

1) Do I file itr for fy 2023-24 reporting those trading losses and also the money I got was from an lic policy matuarity which my father made 20 years back(it came directly to my bank account). Do I need to report that also ?

2) Are there any instruments to save taxes
On short term capital gains ?

Note- i have no other source of earning right now just investing and trading.

Being such a nice investor please always fill itr to create some extra white money at the time it becomes obligatory for you to file itr.

​@NAPSTER Here are responses to both your queries as per my understanding:

1. Yes, you must file ITR for FY 2023-24 and report the losses. Both STCLs and LTCLs can be carried forward up to 8 years to set off with gains in coming years. Also the LIC maturity amount may be reported, but it is not taxable.

2. If you make gains in markets, taxes are inevitable. There are no instruments to save you from STCG taxes, however for overall income you too are entitled to basic exemptions. Tax calculator from IT dept site will be handy for computing tax liabilities. You should also study provisions for tax loss harvesting to save on taxes (actually deferring to next year).

Good Luck 🤞

​@NAPSTER For profit made after 1.4.24 please ask question in April 2025. We don't know what would be your other transactions till 31.3.25 . Budget will come in July. We don't know what would be tax slabs or rates

Or ask question after budget is passed

The response by @investormahesh  is the appropriate and sharp one .
With kinda profit you are enjoying, do aim for following to reduce income tax subject to any change in old regime during forthcoming budget :

> Saving upto Rs 1.5 L under chaper Vi
> NPS upto 50 K
> Home loan / edu loan etc.
> House rent deduction
Etc etc.

Good luck !!

​@Rakcyt Since our young friend @NAPSTER mentioned having no other source of income than gains from trading in markets, it does not make too much of sense considering chapter VI-A/section 80C instruments (PPF, insurance premium etc), NPS, home loan etc at this stage. As he booked about 80K losses in previous years, same can be set-off against gains in current year. Assuming his total gains this year be Rs 5.5L, he can avail basic exemption of Rs 2.5L and therefore balance taxable amount will be Rs 3L from which 80K losses can be adjusted and on remaining Rs 2.2L STCG tax will be payable.
These figures are assumptions as an example and he needs to check actual computation will be applicable. But compliments to him for starting his journey in markets at an early stage. Would recommend him to consider building long-term portfolio as real wealth is made with patience. Good Luck Napster 👍

Why to take so much pain just opt for new tax regime which can make income upto 7 lakhs Tax free

Don't worry @SONMAYA Ji..

Many guys will come and go once they don't get enough allotments.

Those members who have been here for long knows how to be Dravid while most will be here being Afridi.. 😊

​@IpoZINDAHAI Endorse your views 👍
In words of Sardar Sampooran Singh Kalra, better known as Gulzar Saheb :
मिलता तो बहुत कुछ है
ज़िन्दगी में
बस हम गिनती उन्ही की
करते है जो हासिल न हो सका

In public platform there is no compulsion for people to stay/leave, if some GEMS are lost, there certainly will be many GEMS present and hopefully few in making too 😊

​@Chhote Lal Captured so aptly bro.
One here sung by all time fvrt Mohd Rafi :

For those who left :
"Main yeh soch ke uske dar se utha tha , ke voh rok legi mana legi mujhko!!
Hawaon main lehrata aata tha daman, ke daman pakad ke baitha legi mujhko!!
Kadam ease andaaz se uth rahe the ,
Ke Aawaz de ke bula legi mujhko !!
Magar usne roka , na usne bulaya,
Na awaz hi di na, na vapas bulaya!!
Main aahista ahista badhta hi aaya ;
Yahan tak ki us se Judah hogaya main !!"

Just for fun 😊 😊

"With malice towards none" - Khushwant Singh

I think credit goes to admin for extra policing.

People don't want to write or share anything..lest they be blocked by admin.

I once shared a link to the YouTube interview of the promoters talking about company before IPO..and my message was not allowed to be published.

​@Rakcyt Thanks for your kind words, Rakesh Bhai 🙏
Kya yaad dilaya. "Main yeh soch kar ..." was master piece penned by Kaifi Azmi and made immortal by Rafi Saab.
And what a twist ...
"With malice towards one and all" - Khushwant Singh.

Hoping, GEMS will keep participating in this forum 🙂

​@Unknown Man Sir, CG.com has provided this fantastic forum for discussions and sharing views by member community. It will not be fair to blame Admin for any extra policing. It is open public forum and being maintained quite well. Members are required to follow guidelines and contribute too which in my opinion is being done by most of members. There is difference between anyone leaving the forum at own will (for whatever reasons) and getting blocked by forum Admin. Do not wish to comment on members/Gems (as called by others)who left, but saying all GEMs have left does not sound true as there are so many who are present and participating. Nahin?

​@Chhote Lal Bhai pls allow me to correct a bit ..with your permission :

"With malice for none "
Or
Good will for one and all
Both are same .
🙏🙏😊😊

​@RAT Activate Kotak Activ Money and you are done.

​@SJ❤️ Holding tight

Holding tight..!

10000👍

Holding around 48k VI shares

Bought 36000 in sondary market on 15/16 May and started selling from 17th May. Today dispopsed off last batch of 1000@ Rs.14.60 and 9000 @ Rs.15.35.

25000

Bought 36000 shares of VI @ at anaverage price of Rs13.12 on 15/15 May

too much enjoying. holding no plan to sell.

wow i just checked and i have almost 75000 shares

Feel good that u all also showed patience in VI 🔥🧿
We all here CG friends are now family we learn together n enjoy money rain together 🔥🔥❤️🧿🍀

Have sold 600@15.5 yet 900 left

​@Luck in IPO Dear this is millon doller question and answer is hidden in your name itself . So apply for minimum lots for BHNI and leave on luck in IPO..
..

​@Rakcyt Great 👍
Remember your comment about BTST, though tomorrow (of BTST) was delayed a bit, but conviction on the counter appears to be paying now. 😊
Best Wishes to all who are holding 🍀

Holding 25% (2Hni alloted)
75% sold between 12-12.95

​@Chhote Lal Kudos to your memory 👌👌
Besides that I also mentioned target for remaining balance as 15/16/17 .....which now gets revised to 18 ( post election scenario).

Good luck to all who had patience ☺️

​@Rakcyt It sure was a Rollercoaster ride
Held all allotted lots and my 1st target is 16 at that time to offload around 50% if it is reached.
But seeing how the scenarios are playing out, can the 1st target be moved to 18. Thoughts?

​@Rakcyt Wondering if firm UBS has given this Target of 18 looking at your conviction. Afterall, your connections with UB group were strong 😜

PS : On a lighter note only, but full appreciations 🙏

​@ROAR  There should always be some margin for unpredictable and unseen bad news or events which could lead to forecast going haywire.
Always keep on booking some profits at higher levels for such an exigencies.
Yes 18 is very much in sight.......for long term will not get surprised to see 25 within 2024.

Bullish but always be cautious 😊😊

​@Chhote Lal  Bhai, Both sounds same United Breweries and UBS ( S= Spirit 😜) .

My target were however based on technical data at that time which not always may prove to be right . It just 'cas bull market is favouring the chart too

Perfect Forecasting !
No matching Your Technical Analysis! Keep Roaring Sh. Rakesh Ji 💐

​@PRASOON Sir, I second your thoughts. Thanks for letting us know that @Rakcyt Bhai is Shri Rakesh ji 😊🙏🙏

And I stupidly sold it yesterday at an average of 13.90 cause on 27th the locking period of QIB was ending so I thought they might start booking profit.

​@Chhote Lal Ji. Kudos to your memory !
Very eager to meet you. Pls do let us know whenever you are nearby 💐
-Regards.

​@PRASOON @Chhote Lal 
My Young bros , Don't bring wall in between our way of free communication please 🙏
Pls feel free to call me simply Rakesh 😊😊

​@PRASOON Thanks for your kind words. I too am very keen to meet all of you. Let's see if VI crosses 18 soon and sponsors my ticket 😊🙏🙏

Congrats to all allottees who have been holding the shares patiently. It was evident that the journey will be full of ups and downs but in the end patience paid off. I was not expecting it to reach 15 so soon but now that it has I am a little confused whether the price has factored in the Election results and the imminent tariff hikes ? Also, how probable is the AGR waiver by SC about which UBS mentioned while revising its target ? I am holding 16 lots currently and will wait till elections to get over to see if there is any upside post that. Members kindly advise. Thank you in advance.

TIL that @Rakcyt og name is Shri Rakesh. i thought your name was Rakshit.

Holding Tight few allotted lots.
Aaj IDEA JUN 17 CE sell kari ₹0.65 me. Ab 17 ke andar kuch bhi rahe.. 60 paisa to mil jayenge.. Aur upar gaya to 17.60/17.65 me sell huye..
Have heard a lot of positive news about this in last 2 weeks.

​@exness  Buddy, the other half of my title is part of company's name when I got retired .😊

What a rollercoaster ride is going in Vodafone idea. 14 to 15.7 and now again at 15 with mammoth volumes let's see where it closes

​@Anuwak ji , Aapka approach kafi pasand aaya, par mujhe CE ke bare me nahi pata, kya aap iske bare me thodi aur jankari de sakte hai 😊

​@Rakcyt Noted, Rakesh Bhai 🫡
Communication will remain free, as always 👍

Heard that QIB/Anchor lockin is ending on 27th..might be a pump and dump strategy..any views

​@German According to CG website locking period ends on 23rd may 2024.

​@German @Ajaysinh Jadeja Firstly QIBs have no lock-in period. And Anchors do not have any specific reasons to exit the counter as yet (Anchor Investors are allowed to off-load 50% after 30 days). There are news about Government giving concessions on AGR dues (50% likelihood) or possible equity conversion that is reckoned by firms like UBS to give targets like 18 to VI. If waiver gets confirm this Target is likely to be revised upwards too.
Let's keep a keen watch and avoid any action in hurry 👍

​@Chhote Lal 
Thanks for the information. I am still holding my hni lots.

​@Chhote Lal Nice I am also holding 55-60% till now... Will start seeling these if goes near 18

​@Chhote Lal @Ajaysinh Jadeja Thanks for clarification..Is there any official link also where we can find the lockin date for anchors for 50 % selling eligibility.

​@German Kindly go to Vodafone Idea page in CG.com where you will find these details. Look for section

VI FPO Anchor Investors Details

Anchor lock-in period end date for 50% shares (30 Days) is May 23, 2024

Anchor lock-in period end date for remaining shares (90 Days) is July 22, 2024

Hope it helped 😊

My message before 10 days…on vi .,,.,,,…………Good morning sir
I’m also holding approx 50000 shares of vi and I will sell in 5 satages 15-16-17-18
If before election results otherwise after if bjp ruling I will sell on 24…… otherwise i will sell on 9.95 in negative returns case

Does anyone have any idea when is the supreme court ruling on AGR dues relief coming on ? And how will it impact the telecom industry ?

​@SMMM Vodafone Idea's curative petition is expected to come up for hearing after the Supreme Court’s summer break ends in early-July. If award goes in VI favour, it will bring down the the AGR dues by 46 to 50 %. As per estimates, there will be cash flow relief to the extent of Rs 6,500 Cr. In addition, AGR interest and penalty if waived off will benefit both VI and Bharti Airtel. There are many ifs and buts as of now, position will hopefully be clear in next two to three months.

Thank you @Chhote Lal for the clarification.

Thanks @Chhote Lal For updating us about VI news

Why so much volatility today ?

​@SMMM Markets before poll results are under pressure and so the shares. Vodafone Idea share appears to be aligning with the same. In any case 2 to 3% fluctuations on either side is normal. There are no other stock specific news there. Let's keep a keen watch!

Yeah the counter seems to be moving with the market now. I am waiting for Monday to see the impact of Exit polls on the scrip. Hoping for a bump up.

Holding…
Vodaphone- 7 Shni lot
Adhaar housing-4 shni lot
Godigit- 2 shni lot

let see next week 😅
All the best for holding above stocks..
Hope it will be worth waiting

Sold party
Vi
Irfc
RK swamy
Rp tech
Aadhar housing

Booked profit

Sold gandhar oil retail today

​@Rakcyt Following your strong conviction on Vodafone Idea, it already crossed levels of 16 yesterday. Today is 4th June. Let's see how quickly it reaches the targets 🤞

​@Rakcyt Yeh kya huwa Rakesh Bhra ji, Aaj to yeh bhi volatility ke lapete mein aa gaya. 😎 How do you see it, Mauka ya Dhokha 🤔

​@Mani sharma Hello, while HAL has already run up in a short period to touch 5000 levels currently, Brokerages like Jefferies and Nomura have maintained BUY while raising target prices to as high as Rs 5,725. According to these agencies, there is potential for up to 15% upside.

However, one should evaluate own risk/reward appetite before making fresh entry at current levels.

If someone is already holding, enjoy the momentum.

​@Chhote Lal Ji holding with a whopping 156% profit ☺️

​@Professōr Great 👍
Best Wishes to you and all those holding this counter 🍀

Ans then the world is even of jealous people too

​@IpoZINDAHAI Mujhe to maja aata hai jab Pandya ji apne application aur allotment ke bare me batate hai.
Inspiration milta hai Ki mai bhi ek din aaisa hi vadi vadi application lagaunga😀

​@IpoZINDAHAI Agree with you on this..will take your advice in good sense..

​@Rajatkol true.. and those useless jealous people dont understand/never think how much smart work/hard work a successful guy did to reach that position. some of them will assume that its pure luck to become successful.. even if we want to be lucky in SME IPOs to apply with crores, everyone who is having money (even if we assume that someone is having ancestral properties/cash) cant bet on Share market & be successful