Latent View Analytics Limited IPO Message Board (Page 40)

@Jackpatel

If you applied via Zerodha, if applied less than 2L amount will consider as RII, and if applied more then 2L amount will consider as NII.

On Axis ASBA - You should go with [NII-Others] option. The condition 3 is for shareholder quota. I am not sure as I do not have account in Axis, but may be option selected somewhere or else just ignore that as that applies when there is shareholder quota.

@jackpatel: yes zerodha doesnt allow HNI application since it allows via upi so only upto 2 lakh can be bid under retail category via zerodha.

And in axis asba, you need to choose "NII-Others" option and apply for more than 2 lakh shares and dont click on cut off and enter price as 197 and enter shares in multiples of lots. Ignore option 3 which you mentioned.
And i think you have mixed up details in your above message. Anyone having axis asba can also confirm.

@Manu.. I can see you have tagged as New member but you have shared very good information. Regular HNI folks what''s your view on above post?

Please some intelligent reply awaited from HNI Investors as it will be helpful for all..
CA Manu

Only the value of alloted shares count.. doesn''t matter how much money being blocked through out d year.. Take it easy..

At least what i feel is that third point is most foolish and impossible.
it will definitely be counted as 20 lakh only not 20 * 20 = 4 crore
and if no one is putting black money in ipos then no one has to fear for anything.

Hello @Manu Manu
is it 20 Lacs or 10 Lacs for reporting to Income tax?

Hopefully now things are faceless so will have to reply online and now all depends on how good we can explain them in submission.....

AIS & TIS will fetch data from depositories - NSDL & CDSL and from registrar - CAMS , KFin , linkintime in case of mutual fund.
So it does''t matter how much you apply , 14k or 4 cr.
Soon it will replace 26AS. 26AS will be history.

AIS fetched even 1 rupee dividend of 1 equitas share which I have bought for shareholder category.

Red Alert for those who are reporting lower amount of SB interest. SB & FD int. will be fetched automatically and will put you in respective tax slabs.

It''s a TAX BOMB gift on 1st November before Diwali and so no more happy Diwali this year too for middle class.

Intraday trading and BTST are only loopholes for this year as the shares shall not be credited in demat account in these cases.

@jstm: for last year, only some of the dividends were shown in 26AS form but many were not present ir-respective of amount and at least till current ITR filing, auto reporting of bank account and Fd''s interest is not there, I heard that may come from next year filing, even short term and long term capital gains tax may come automatically but I feel that may not come next year and may take time.
But one thing is for sure that with all these auto income auto coming in ITR forms, tax filing willl be easy for genuine taxpayers, and it will boost government tax collection by huge amount and it will burden with lot of extra tax amount to taxpayers since hardly anyone is reporting all these savings/fd interest, short/long term capital gains and dividends for the exact amount as received.

Bhai dara diya tumne....
Pehle baar socha thaa Hni mein apply karta hu..
Retail he theek hain ... 🤥🤥.

IF you have already 20 lac in bank account that means it is already white money
by the way when you allot shares is very lesser amount''s. and on top of that i want to clear that tax is not on shares purchased it is on PROFIT ON SALE OF SHARES THOUGH RESTRICTED AFTER 1 LAC LIMIT.
Conclusion
only fear when your money is not in bank it is in cash or not accounted in last year''s ITR or current year''s ITR
AND
if you earn profit more than 1 lac ON LTCG

any further advise will are welcomed

@noorul sir are you sure?
only alloted share value is counted?
Pls guide us

@ shad. 100%.
Just pay your taxes on time.

@noorul sir. Thanks alot

Income Tax is always on the Income only and not on investment.
We are already earning income from other sources like mutual funds and if we are paying all taxes, there should be no problem.
In my personal opinion, if all incomes are directly fetched and reported in 26AS, it will help investors in filling ITR as otherwise we are likely to miss some entries.

I think your info is not uptomark. I gen apply for 1K + lots not rec''d any such notice. 5here may be some other parameters too for such notices.Dont worry unless one has prob in showing source of funds.

I think you are all mixing too different things:

1. IT department sending notices
2. Actual Tax paid by Payee.

It is correct that Tax is paid on profit earned on actual investments.

IT department tracks large transactions. If someone is applying for 5 crore share then its intention can be assumed to execute a transaction of 5 crore. Even if investors knows that despite application his/her finally executed transaction will be only for 1 lac but the fact on record is still that investor intention was to transact 5 crore. Please understand that IT will never ask to pay tax on 5 crore but they can still send notice that may ask to prove that the investor has already paid Income Tax on that 5 crore income earned in the past.

If the investor is paying Income taxes in time and filing IT return in time, these notices may not lead to any additional financial burden on the person but it can still lead to significant stress for the person to deal with IT department folks which hopefully may have come down due to new online enquiries done....but it may still become a major botheration for an investor.

IT department is correct in their approach because there are numerous investors who never paid any IT on their investment income. It happens that in the quest to catch few Tax evader.....much larger no of investors may receive enquiries notices.

@ Noorul Ji
Please update you and believe me the intent to invest is calculated on the basis of application and NOT ON THE BASIS OF ALLOTMENT. ( Yes this is hard truth)

@ B.K. Singhania Ji
Respected Sir, the question is neither of (1) White Money (2) Nor of Profit or loss on Shares (3) Nor of accounted in last/previous year ITRs or Not
Please understand - IT Officer ( even in case of faceless proceedings) has little or Zero knowledge of Rotation of SAME Amount in Different IPOs.Most of them are so illiterate fools that they ask very naive Questions...and do you think every person is competent enough to respond to their foolish queries?
My only submission is that please be prepared for Foolish Notice from ITO even if YOU ARE 1000% clean n clear in ITR Matters.
Comments and guidance are much needed from you..

@ lokes
mind your language - "foolish and impossible."
I can prove that by sharing ITR Notice.
Outcome of the notice proceedings is not important.
It is again not the question of Black Money or Fear Etc . Etc..
Because you can be and will be screwed by Foolish ITO even if you are 1000% clean n Clear..
UNDERSTAND????????????????????

@ jstm
Till date ,responsibility of Reporting under AIR is with the IPO Company
means if i put an APPLICATION of more that 200001 ( yes 2lac1 rupees) may be 10 lac or 10 crore ,irt is the duty of IPO ISSUER company to report under AIR.
Am i Clear Now???????
Plz do some study on this.Rest your info is correct

@ Avenue
My point was NEVER on - "Income Tax is always on the Income only and not on investment"
Please read the post again

@Adv Sarin
Sir, the main problem is ITO is so ill informed about IPOs/Shares that he dosn''t understand/like to understand the difference between application of 50 lac and allotment of 30-50K shares only
THE MAIN PROBLEM IS AIR merges all the applications in different IPOs in ONE FINANCIAL YEAR in AIR in FORM 26AS and shows as if the investor has applied that much (E.g. 4 crore in my example)

@IPO Mitr
I completely agree with IPO Mitr.
It is the most logical though lengthy reply.
Mt Intention of posting is Neither to Frighten anyone/nor to discourage anyone/nor to get any undue benefit or profit.
As money and consequences are of the Individual Investor.
I just shared as I felt it to be useful. If anyone feels offended/hurt. i deeply from my heart ask pardon.
Please do as per your financial Advisors Advise

plz reply anyone else if feels ok

@manu: what mind your language? What is wrong in using word foolish, why you used foolish for ito then, you also mind your language. And you leave all your concerns, we will deal with our IT notices. You don''t bother. Fine, I am investing 20 lac in each ipo and using same amount in 20 different IPOs in a year so I am making 4 cr investment in a financial year, very good, fine, we will take care of that. You don''t worry about us.

@ lokes
Be clear nobody is worrying for you atleast.
You have used the word "Foolish" for my post that''s why i asked you to mind your language.
If you feel it as ok then all your posts from the beginning are Foolish.. Is it right now?????? or you feel hurt??????????

@ lokes
I am using the word Foolish for ALL ITOs ,yes, because all behave like foolish and don''t want to understand the actual reply.
Moreover, I have nowhere said that 4 cr. is INVESTMENT, but yes it will be ported in AIR as "Investment in a Company" and not "application in a company".

Its a fact that coming few years every transactions will be tracked and monitored by IT office. They apply some intelligence and create different categories of Tax Payers to treat differently. There might be some weak algorithms to get intelligence out of their data, but they learn and improve the algorithms.

In this case if they consider as 4 crore of investment in one FY, one can explain in better way with examples, that its rotation or reutilization of same capital. For eg. If one company has 1000 crore of raw material purchase, doesn''t mean company has 1000 crore fund or profit in previous FYs. Its a rotation or turnover of funds.

One can explain that he/she has done 20 transactions worth Rs. 20L at different intervals and used same funds, thats called Turnover. Out of those 20 transactions, X transactions didn''t generate profit ( Non allotments ), Y transactions turn some profit and some Z transactions turn into loss.

So ultimately its just a matter of explanation. IT officers are not that foolish to understand this simple things, otherwise they had always disputes with companies on turnover numbers. There might be possible that some of the IT officers might be dump but exceptions are always there in all departments, even in private companies as well.

@ P Pate
Very well explianed.
But the question remains same who will explian? to whom? Dumb ITOs?
and after faceless proceedings,it is a never ending explanation.
Anyways..it is the matter and money of the person who is applying under HNI...
Thanks Everybody.. EXCEPT @ lokes

anyone plz

@MANU MANU

Dumb ITO???
ITO are selected on basis of SSC CGL and their seniors are on Indian revenue service.
They involved in policy making man and you are saying they are not able to understand ipo mechanism!!
c''mon grow upp they knew everything before IPO system started.If they know nothing how can SEBI officers (IRS) handle investors''s interests?

Its different matter if we are not aware of our rights then someone fools us!!For that purpose government launched Citizens charter in 2020 for taxpayers..

Happy investing

@manu: ok all ITO''s are dumb and all my posts are foolish, fine now...be happy...and i am not at all hurt for my foolish posts, at least less foolish than yours.

@manu: And mind your language also : "Because you can be and will be screwed by Foolish ITO even if you are 1000% clean n Clear.. "
that''s why i said stop worrying about me by posting such things, i will handle my IT notices and i will be screwed, its fine, i will take care.

@ MANU MANU dear manu ji, it''s good that you shared your view on IT notices
but you should consider others advise too as here i think probably many are very knowledgeable(not me others) consider others point if right

and secondly which you r saying notices after 1000% surety ya that''s right and its not IT DEPT is novice ya but if once they consider few pan to be suspicious then do give REGULAR NOTICE TO THAT PERSON/INSTITUTE whether they fail to comply or not
that''s hard luck or your activities will decide so let it be about IT dept
just chill here n give informative posts as you put CA before your name we will happy to get handy knowledge from you

Will be decided on 16th.
Thanks.