Shilpi Cable Technologies Ltd IPO Message Board (Page 16)

To,

Rakesh Kumar Agarwal

GOOD LUCK TO YOU

.

SHILICABLEWILLBELISTONRS.50

For the first time feeling happy about not getting allotment for an IPO.!! My withdrawal request by fax and e-mail was accepted for PTC IPO and the ASBA amount is released.!!

check

To santosh ,I enquired form federal bank ASBA dealing persons,they replied there is no modifications permitted after the closure of the issue but we can send an email through registered mail before closure of issue. I asked regarding post closure method told in NSE site.For that he replied that is for who are taking these applications and modifcations if any which have taken due to erroniously noted .The same can be corrected by the dealers.

hi

sbi bond tax treatment......

as no stt is applicable...stcg of 15% normally associated to equities is not applicable....
but it is a capital asset under income tax laws...so profit from sale of it will come under the head--capital gains....

meaning it will be added to ur total income and u will pay tax according to ur tax bracket...

if it is sold after one year,it will become long term capital asset and since no stt is applicable,u will pay either 10% of gains....or with index adjusted cost price and then calculate ur ltcg...choose any whichever is more beneficial....
just i have to keep updated why stt is not applicable to bonds...

Vivekbhauka

I have understood now.

Will you please tell me the tax treatment on SBI bond gains listed recently. I have seen from contract note that no Security Transaction Tex has been charged on the sale proceeds. That means it is not a security & the gains possibly can be a sort of interest which is to be added to other incomes for tax purpose. Even if the bond is sold after 3 months, the gain cannot be taken as short term security gain & will not attract 15% tax as is done in securities where STT is paid.

Sreedhar, I have applied for withdrawal from PTC IPO with scanned copy of PAN CARD. I am happy to inform you that my withdrawal has been done successfully and whole amount is refunded.

SBI BOND BUYER WANTS INT ON SOLD APPLICATION AS UNDER OF 1.0.LAC
545+190 =735 THIS WAS WITH INT SOLD . PL EXPLAIN WHY 190 INT FOR 7 DAYS .ANYBODY HAS ADEA OF THIS EXPLAIN. I HV DENIED THE SAME LOGICALLY INT IF RECD AFTER DATE OF ALLOTMENT BELONGS TO THE APPLICANT ONLY THOUGH THEY ARE INSISTING.

hi

i have completed my ca too.
in stocks its just a matter of 1-3 days where u sell ur stock and get the amount credited in ur brokers ledger...time gap is not much....hence u can adapt any policy as long as its consistent for u in ur dealing with shares...

with regard to property the transfer of title date is the date of sale...irrespective of when u get amount...if u get if before its treated as advances in ur books...if title is transferrred...its sold on that date...and the buyer will nor stand as debtors in ur books...but u will book ur profits here...

dont apply stocks and property in same logic....for property its clearly mentioned in income tax rules etc that date of transfer of title is the date of sale....

---Source-Economic times:


Govt to begin FY12 divestments with PFC issue on May 10
NEW DELHI: The government will kickstart its disinvestment programme for the next financial year with Power Finance Corp's (PFC) Rs 6,000-crore public issue on May 10, a senior government official said. "The company will begin international road shows from April 27 and its price band will be fixed 2-3 days prior to its opening," the official said, requesting anonymity.

The launch schedule was decided by top PFC executives and senior officials of the department of disinvestment and the power ministry on Thursday, he said. PFC plans to issue 15% fresh shares though the follow-on public offer where the government will also disinvest its 5% stake.

The government holds an 89.78% stake in PFC. It had divested a 10% stake through an IPO in 2007. Retail investors and PFC employees will be eligible for a discount of 5% on the issue price, the official said. The fresh issue of equity shares will enable PFC to maintain a comfortable gap between present and required capital adequacy ratio and enhance equity base for future investment needs, the official said.

PFC in July last year was categorised as an NBFC. The status requires PFC to maintain capital adequacy ratio of 15%. At present, PFC's CAR is 18%. The government targets to raise Rs 40,000 crore in the next financial year beginning April 2011 by diluting ownership in public sector enterprises such as ONGC and SAIL.

The follow-on offers of ONGC and SAIL were expected in 2010-11, but the government had deferred their issues. It is planning to launch their FPOs in June-July this year. Against a target of Rs 40,000 crore in 2010-11, the government has mopped up about . 22,500 crore through share sales in Satluj Jal Vidyut Nigam, Engineers India, Coal.

Vivekbhauka

I think there cannot be two accounting procedures. As an example if you sell a property on or before 31st March for which you were given draft which you may for any reason deposit in your account in say June, then still you will be considered to have sold the property during FY 2010-2011 & the capital gain or loss with indexation for 2010-11 considered. Otherwise indexation value is higher for FY 2011-12 against FY 2010-11. I think it is the date of cotract which is to be considered for any sale for accounting purpose.

Taxation experts only may please reply.

Friends,
Those who have mailed to Karvy regarding withdrawal of application,can you tell me whether it worked or not.

well the profits/losses /transactions done on 31 march could be taken in 2010-11 or 2011-12 depending on ur accounting method down over past years....its actually method u adapt year over year and how u account for in ur books.....its should be consistent over years.....thats the concept.....there is no specific rule as to which year u will account for....but it should be consistent for all past years also....the same method.

@174
You should match your account with your ledger as on 31-3-2011.Every sell or Buy(Profit/Loss) on 31-3-2011 must effect in current financial year of 01-04-2010 to 31-3-2011.You should match with your ledger of trading account on 31-3-2011.

Experts in taxation........

Please clarify me the following:

If I make delivery sell in cash market or trade on 31st March for which the settlement date is also 31st March, then how to account for the gain or loss arising out of it when actually the amount is debited or credited in the bank account on T+2 days i.e. on say 3rd April. Should we include the loss or gain in FY 2010-11 or FY 2011-12. In my opinion the gain or loss should be accounted for in FY 2010-11 since the contract has been executed on 31st March which is in FY 2010-11.

Only the experts who are professional CAs or who have had past experiance on the issue with the Income Tax Department need to reply. If possible indicate the income tax section in this regard.

Plese reply urgently

I did not get you. Please tell me clearly what you mean by the question. Then only I may be able to clarify and clear the dust of your doubt.

161-CHD
I want you to get the gain :)
I have not applied in this issue as mentioned earlier

Hello,

Can anybody please tell me, how I can trade/buy in SBI bonds?


Regards,
Anil

Ds g

you can apply from OD a/c through ASBA.