Tax On IPO ALLOTMENT

[ihmahetar]

I am know that if I got IPO Allotment and sell ipo shares within one year then I need to pay short term gain tax.

But here is twist

I applied ipo with different pan and difference demat account of my family and friends circle and all ipo mandent amount block and deduct from my bank account.

If I got IPO Allotment and who is tax payer ?

Money is debited from my bank account and shares credited to demat accounts holder if shares sell then who is tax payer for it

 

[S9100]

I am know that if I got IPO Allotment and sell ipo shares within one year then I need to pay short term gain tax.

But here is twist

I applied ipo with different pan and difference demat account of my family and friends circle and all ipo mandent amount block and deduct from my bank account.

If I got IPO Allotment and who is tax payer ?

Money is debited from my bank account and shares credited to demat accounts holder if shares sell then who is tax payer for it

Ideally money should have been deducted from the demat holder.
But anyways it's very clear that demat holder will have to pay tax

 

[0xpratyush]

I applied ipo with different pan and difference demat account of my family and friends circle and all ipo mandent amount block and deduct from my bank account.

Demat account holder name must match with bank account name.. allotment hi ni milega bas paisa block unblock khelte rahoge 🥲

 

[S9100]

Demat account holder name must match with bank account name.. allotment hi ni milega bas paisa block unblock khelte rahoge 🥲

But they should not have even blocked funds. They should put checks in place before blocking funds.

 

[Piyush_Jaiswal]

Demat account holder name must match with bank account name.. allotment hi ni milega bas paisa block unblock khelte rahoge 🥲

This is what they claim. But in reality there's no check. I have got many IPO allotments with different PAN but my upi id.

I am know that if I got IPO Allotment and sell ipo shares within one year then I need to pay short term gain tax.

But here is twist

I applied ipo with different pan and difference demat account of my family and friends circle and all ipo mandent amount block and deduct from my bank account.

If I got IPO Allotment and who is tax payer ?

Money is debited from my bank account and shares credited to demat accounts holder if shares sell then who is tax payer for it

The demat account holder is liable for short term capital gain tax. When they will file ITR, it will be shown in the portal.

 

[S9100]

This is what they claim. But in reality there's no check. I have got many IPO allotments with different PAN but my upi id.


The demat account holder is liable for short term capital gain tax. When they will file ITR, it will be shown in the portal.

Thats pro level info.. Good going