Nothing. That would be treaded as investment gains. Govt has made such rule to dishearten people who have mindsets to make quick bucks if they are not traders and keep market away from volatility.
Since most people are not paying taxes on IPO income govt has found proxy way of hunting down such tax evaders. You now have to file Annual Information Report on transactions involved high funds with ITR.
Also company in which you'll apply will be having your PAN which is must to apply ipo and chances of getting caught now are much than the past. Though I'll request any expert to clear my doubt on http://www.tin-nsdl.com/anninforeturn.asp 5th clause that is it necessary for company we apply to inform our investments to IT dept or is it our responsibilty?
Since most people are not paying taxes on IPO income govt has found proxy way of hunting down such tax evaders. You now have to file Annual Information Report on transactions involved high funds with ITR.
Also company in which you'll apply will be having your PAN which is must to apply ipo and chances of getting caught now are much than the past. Though I'll request any expert to clear my doubt on http://www.tin-nsdl.com/anninforeturn.asp 5th clause that is it necessary for company we apply to inform our investments to IT dept or is it our responsibilty?