Harsha Engineers International Ltd IPO Message Board (Page 53)

Pehle kamao badme tax ke bare me sochna, go ahead and apply. best of luck for the allotment.

Applications above two lakhs will only come in Income Tax AIR (Annual Information Report) . If there entries in AIR, Income tax filing is necessary even if tax is NIL as per my knowledge. Others from financial fraternity here can confirm or clarify if it is not so.

Dear Vinay Agrawat,
May be you are having income or not... You have to file the income tax return. Income tax bharna jruri hai... Please try to contact some tax consultant advocate and file the income tax.. Why I am saying you / advising you, because Income tax returns are required everywhere. Suppose, you want to apply for loan, you have to furnish income tax returns for last 5 or 3 years. Therefore, you must file the income tax returns with the help of tax consultant. Hardly he will charge 500 to 1000 rupees.

@Ou Ai, Annual Information Statement (AIS) its just a advance version form 26a, its show many more details like interests on bank FD and all, usse koi farak nahi padta. Tax only applied on sells of security if there is any STCG or LTCG, AIS me entry purchase of security ki hogi.

Income kam ho Chahe Jyada IT Return File karo. Aur 2 Lakh se Jyada Retail application hai to AIS mein Aayega. Agar Non Taxable hai to bhi ITR bharo ₹500-1000/ Auditor Fees hi Lagega. Aap Jab Taxable aayega tab Return file karoge theek hai? Uske baad Income Tax Department Aap se Previous years k Return ka bhi Puch sakta hai. ₹500/-1000 k liye kaheku Tension lena.

IT Return File Karo Aur Chain ki Neend Sowo.
Jab Puraane hisab Puchega Income tax to Sab Documents. Papers, Proof, Dhundte Raho.

Hello @MehulStk, @Ou Ai, @Bull Morris and @B.M. SURANA thank you so much 🙏 for your valuable advice

Actually meri chinta ye thi ki mere paas 8.5 lakh ki fd he aur around 3 lakh saving account balance he, aur koi properties mere naam nahi he

To me ab tak retail category me apply karta tha aur ab sidha small hni category me ipo apply karu to mere pahle ke fund like fd par to koi tax nahi lagega ,it is just my savings by many years

But now I'm very much relax by all your valuable information

Any other suggestions are welcome for all my chittorgarh family

Help eachother and grow together

Thanks

@Vinay understand your concern, don't worry go ahead and apply, agar koi capital gain hoga to tax pay kar dena. Koi dikkat nahi ayegi.

Sir @MehulStk thank you thank you so much for your valuable instant reply now I'm understand so much knowledge
Thank you all for wish me luck 🙏
Thanks

@VinayAgravat
मेरी मानो तो?
FY. 2021-22 का Income Tax Return file करदो! पहले यह देखलो आपका Total FD ,Bank Balance Stock market investment और भी कुछ हो तो सब जोड़ कर 31/03/2021 को कितना होता है❓!
01-04-2022 से 31/03/22 तक कितनी आय है सब मिलकर Profit & Loss Account में जो भी Net Profit है Capital Account मे 31/03/22 को Transfer करो!
अब आयी Capital Account की बात?
मान लिया आपका टोटल Assets 10
लाख है 31/03/21 को तो आप Capital Account में 01/04/2021 Opening Balance 10 लाख करो और कुछ Drawings [ 50k ] दिखा दो खर्च में! Net Profit Transfer करो Capital Account में! मान लिया 2021-22 में ₹150000 Net Profit आया और Drawings ₹50k तो आपकी Capital हो गई 11 लाख!
Balance Sheet में Capital होगी 32/03/22 को 11 लाख! और Assets 11 लाख! और कोई Liability है तो वो भी दिखा देना! Income Tax File Up-to-date हो जाएगी!
बाद में कोई झंझट नहीं रहेगा!
32/03/22

@Agravat
You might have read the comments of members. All are absolutely correct. If you have to take part in Share Market it is always better to take note of Income Tax. IT Department has information of your each and every transaction. Even a dividend of Rs. 5/- will appear in AIS. Here it seems that no TDS is dedicated from your FD interest.You might be giving 15G/15H.
It is difficult to understand that you don't have an income of 2.5/3.0 lakhs. Whatever the reason it maybe. Try to understand the benefits of ITR. IT choose random cases. Anybody come under the scrutiny. No need to worry. But always be careful and aware of IT rules. Don't depend entirely on others. Self awareness is the best solution of all problems.

@VinayAgravat
Sorry Typo Mistake
[ Balance Sheet में Capital होगी 32/03/22 ] की
जगह तारीख होगी 31/03/2022

I think logically mere applying in shni or bhni should not get reflected in AIS. If you have been allotted and you have sold them to earn profit/loss only then it gets reflected in AIS. Also applying can be done from third party account (parent/brother etc) so I feel mere applying has no meaning.

@mehulstk
Sir,
"AIS me entry purchase of security ki hogi" You are very correct.
Just checked my last year's AIS. No record of IPO applications is available in AIS.
Only the sale of securities is recorded in AIS.
Other members may please comment after checking their AIS.

@Vinay
You are under no obligation by any rules to file your return if it is below the taxable limit.
But since you are investing in stock market you should file your return. Why?
Because,
1. You get to use the carry forward loss from STCG/LTCG which will help you in adjusting future profit when it becomes taxable.
2. Some companies deduct TDS when they pay dividend (though only if you receive dividend in excess of Rs. 5000)
Other reason
3. As a forum member mentioned above, applying for loan you’ll need ITR of minimum 3 years.
4. Now a days, filing a return is not hectic and expensive.

Also, AIS (Annual Information Summary) just shows information about a taxpayer from various databases of companies, government offices. It is not 100% correct and doesn’t cover all aspects of a persons income.

ipo stocks
As far as AIS is concerned, it is not always 100 % correct. You are right. I had purchased TCS shares, but in AIS it was shown as I sold TCS. All aspect of a person's income is not possible to cover. Any transaction done in cash of all type can't be possible to trace by the agency. Any transaction not sent by the Agency due to many reasons, is difficult to trace. Time is about to come when every transaction will be available with IT DEPARTMENT.

@Vinay, my understanding is that merely applying for IPO shares for 2 lakhs above will not come under IT scanner. But if you are allotted or purchased shares worth more than 2 lakhs in one transaction will definitely come under IT attention. Also all your share market related activities like trading, profits, capital gains, Dividends etc. will reflect in your AIS. So it is good if you start filing your ITR, even if there is no income tax payable.

In AIS Only those transactions are reflected which is credited/debited in depository
IPO Application which is not alloted is not coming in AIS. Prev.Year I have applied so many application in HNI Category which is not comes in AIS. So No tension file ITR Match with AIS...

Hello @B.M.SURANA sir thank you for giving me your precious time and sorry for I'm replying late ,now i understand everything

@PKRAJ sir meri fd post office me 5 year td ki he to usme 15G/15H form bharne ki jarurat nahi padti ,by the way thank you for reply

@AAvi,@SARIT,@ipo stonks,@jajo and @Navi Agarwal ji thank you for all your valuable and informative reply

Now I'm apply in shni and file my IT return as soon as possible

Sabko meri taraf se 🙏 thank you

Hello experts in union bank net banking asba there are two options for shni category for apply this ipo which i understand

NII-Others(except QIBs) and
Other QIBS

I think NII-Others(except QIBs) choose karna chahiye for shni me apply karne ke liye

Am i right please suggest if anybody knows
Thanks

No bro.... Only one application per PAN

No Sir One Application Per One Pan

it is always better to file ITR even if Nil or below taxable return...
but just disclose whatever income is received or accrued ....

Without PAN Account Open Nhi hota. Aur Humari Soch yehi hai ki Profit ho Yaa Loss ITR Jaroor File karein Bhavishya ki Pareshani se bach ne k liye!
5 Saal baad mein ITR file karoge to Paper Details dhundte Dhundte Pareshaan ho jaoge .
Is liye ITR file karo No tension.

@Surana, Perfect guidence.
Apart from good investors and traders, we should be good citizen too. I like to add, Also pay advance tax quarterly if gain is significant (taxable). I want to pay a lot of taxes but chance hi nahi milta (Very few IPO allotment).

@sbipo
For opening 10 demat accounts, you have to open Bank account of all individuals with sufficient funds also. If you want to apply in IPOs in retail category, it is not necessary to file ITR, if other income is not there. But want to apply in sHNI it is better to file ITR. There are many benefits of filling ITR. Hope you might be aware. If the income from all sources in not more and applying in retail category no need to file ITR. Many people believe in opening Income Tax files irrespective of income. All depends on income of the individual.
I am not an expert at all. Just learning.

@PKRAJ,
Thank you,
@Surana,
Thanks

Retail- 1:15
SHNI- 1:35

Ok. So i think it is better to go with retail.

But gain, if alloted in sHNI will be 14 times of retail. Retail allotment 1 lot. sHNI allotment 14 lots. Both by lottery.

1. Yes
2. Three bids of same price, not 3 application.

Lunch ke baad 😂

Or maybe check at another counter😂