SRM Contractors Limited IPO Message Board (Page 10)

जी, अप्लाई करना तो बनता है
एलॉटमेंट आ जाए, तो कुछ मुनाफा कूट ही लेंगे
बेस्ट ऑफ़ लक, सभी शुभचिंतकों को 🙂

​@Mahaveer Prasad Gupta जी नहा धोके लगाएंगे तो चलेगा?😜

​@Chhote Lal  If we book profit in the beginning of New FY it is fantastic . It will give much needed confidence too .

​@Rakcyt Surely, it will be auspicious beginning. Let's hope for the best 👍

Best wishes dear @Chhote Lal  And all in CG for fresh beginning in 2024-25 and participate in Rising India 2047 !!

​@Rakcyt Ji shining India 2047😁😁

​@abc xyz Current GMP is over 52%. It will surely be interesting to note premium during listing. However, decent listing gains can be expected.

​@Chhote Lal 
Hope your prediction of good listing may prove true.

Lets keep the hopes high !
Best Wishes.

​@Chhote Lal 
Good morning to all. As expected the listing is very very poor but good thing that listing is not in negative mode. It's a difficult market and not easy to earn. Those days were almost gone & let's wait for the good times.

Now one have to choose the smart value picks which can give some positive returns instead of Zero allotment and if you got it, didn't give good returns.

​@abc xyz Good Morning!
Markets never fail to give surprises. Exuberance met the reality check on listing. Hopefully, this counter will perform well in days to come.

Thanks for sharing 🙏

Hello,
Capital gains in short term (<365 days) are taxed at 15% rate.
Assuming there is no other income, tax liability can be adjusted to nil as per provisions. Suggest, check official tax calculator provided in incometax.gov.in to see it for yourself.
Good Luck 👍

​@Chhote Lal If other income is also between 3 to 3.5 lakh then also it will get adjusted to nil or is it taxable??

Yes after deductions under chapter VI A & rebate u/s 87a, your tax liability will be NiL

Conditions Apply

Only income upto 250000 is tax-free and if any other income added you need to pay tax accordingly. Rebate on income is not applicable on capital gain.

​@Sanskar singh Strongly recommend to check the tax liability applicable yourself. Use this link :
https://incometaxindia.gov.in/Pages/tools/advance-tax-calculator.aspx
Please confirm your findings (as to what was final liability for salary of say 3.5 L and STCG of 3 L or whatever)
Thanks !

​@Sanskar singh If your total income including STCG is more than Rs 2.5 Lakhs, then a flat 15% on STCG will be levied. (However, rebate u/s 87A will be available if total income is less than 5 lakhs i.e. up to Rs 12,500 of tax liability as per current income tax regime)

Source:- https://cleartax.in/s/short-term-capital-gain-on-shares

Please check the tax liability applicable for yourself at your own.

​@Sanskar singh Whenever you will half question, there will be likely to be different replies. You are talking about your capital gains income only. Whether you are a salaried person or a business person. It is always better to ask your tax consultant, if you are filling your ITR through him. If not than it is better to file your ITR through any tax consultant because you have 3 lakhs + STCG. @Chhote Lal If a person is investing in share market, there is no question that he has no other income. He will definitely be having other income, either from salary, pension, interest or business.
As far as I know any income for a salaried/Pensioner person upto 7.5 lakhs (7 lakhs +50 thousand as Standard Deduction) is tax free in new regime. I am not a tax expert, neither CA by profession, but a Govt. Pensioner.
It is always better to contact tax consultant to avert any IT problem. Spend some fund and sleep well. Even @Chhote Lal has suggested good option, if you want to save consultant's fee. Don't mind my views.
Wish you to earn more profits from IPO.

Will admin take any step for @CA Nitin or is there any special love for Newgen Consultancy alone?

​@Dhiraj Ramchandani Just so you know, promoting a personal brand on other platforms or promoting other services or forums here is not permissible right? Are there any other guidelines that I should know of too (just in case)..!?

​@PKRAJ Thanks for sharing your views. Fully agreed, one must opt for seeking professional guidance in such matters if not clear about liabilities and filing returns.

​@Dhiraj Ramchandani Ek toh yeh like button aur report spam button saath saath hain, I remember it was brought to notice of @Admin @ Chittorgarh.com earlier too, requesting once again to readjust position of these two buttons (like and spam) to avoid accidental clicks. Also prompt action is needed on spam messages. 🙏

​@ROAR  There is an article published in CG outlining details about posting comments. If interested, just Google search with key words

Rules for Posting Comments at Chittorgarh.com

Dear Sir,
We have now added a confirmation box to avoid accidental clicks.

​@Admin @ Chittorgarh.com 
Noticed the same. It was required. Thanks for the prompt action 🙏

Another request to rename

Most Liked Members

To

Members with Most Likes

is pending that you agreed to get the same changed. Kindly do the needful. Thanks 🙏

​@Admin @ Chittorgarh.com Thanks so much for renaming Most Liked ... as per request 👍
It sounds so apt now. Appreciations 🙏

​@Sanskar singh  Could you workout the tax liability as suggested?

Thanks a lot @Chhote Lal and @PKRAJ will definitely seek professional guidance
Hope we all keep getting rewarded from Market 😄

Btw @Chhote Lal Do you trade in options or equity??

​@Sanskar singh In this digital era, many of avenues be sorted out on your own too. For example, the tool to find out taxes from official GOV site is such a great utility. Do give it a try.
All the Best 👍

​@Sanskar singh I am just a chhota-mota investor. Mostly play equity. F&O is not my cup of tea.

​@Sanskar singh  If you are into FnO then you need to file ITR3 only supported by PnL statement too .
Last year I filled myself successfully for first time after learning through various means .
My advise is to be cautious on FnO as market is so volatile. I bought contra 22300 PE @13 .00 yday at 2 pm and finally Nifty went up and price came down @ 1.00 . While it was falling after 240 pm , I gave limit price @ 19.00 which was sold immdtly , and within 10-15 mnts it went up to 87 , couldn't earn big as it need so much focus and attention for every second. But it is fun and excitement.

Sorry it was 22350 PE

​@Rakcyt Intra day trading is considered as business income. Hence, intra day traders has to file ITR 3. I stopped intra day trading after seeing the difficulty of filling ITR form 3.😇

​@KGSKIPO  Stopping just 'cas of ITR3 is not the right approach, if you stopped it due to other risks it's fine . ITR3 looks complex but once you follow basic 2-3 steps it becomes so simple . I also learnt after 35 yrs of filing ITR1 only😀😀.
So don't be scared of ITR3 but yes beware of FnO definitely

Receivables on minor's account (<18 Y age) are to be clubbed with individual parent's account (father or mother whosoever is at highest earning bracket) for reporting purpose and filing returns. Understand relief upto extent of Rs1500 per kid (upto Max 2 kids) is available in a year.
For kids over age of 18 Y, independent ITR needs to be filed.
If income/gains are generated in India, same will be taxable irrespective of resident/non-resident status.

Please note, above is as per my general understanding and not any professional/expert advice. Kindly consult a competent tax advisor for proper guidance. Thanks !

Earnings should be clubbed in one of the parents income who falls under higher income slab even if age of the children is more than 18 years but dependent on parents.