AIR

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2010 AIR requires disclosure to be made in the return of income if any person has acquire shares of any company. I wonder whether this shares should have been purchased through an IPO. Or shares purchased from market are also required to be disclosed?
please give some light.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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22 August 2010 Shares purhased through a IPO above Rs. 1 lakhs only needs to b disclosed in AIR part of ITR not shares purchased from market.

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2010 ok..but is there any obligation on the part of broker to file AIR for purchases made above Rs. 1 lakh from market? the return part is clear.thank you

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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24 August 2010 No obligation on the part of the broker also.

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