Despite the decline of the stock market, the IPO listing continues. Mutual fund houses have invested more than Rs 5,294 crore in the newly listed small cap IPOS in June quarters. Major investment occurred in Ather Energy (1,351 crore), HDB Financial Services (1,331 crore), Schloss Bangalore (679 crore), AEGIS VOPAK TERMINALS (495 crore) and Belrise Industries (398 crore). However, only 41% of the schemes are able to give better returns from their category benchmarks, making it necessary to invest vigilant to fund managers.

If you showed the wrong income while doing ITR file – inadvertently or intentionally – you can also be jailed with heavy fine! Income Tax Department has strong systems and strict laws to catch such cases. Under Section 270A, showing less income is 50% and intentionally misinformation is imposed. It is necessary to cross-check AIS, Form 26AS, TDS, GST and bank data. If a mistake is made, then Penalty can be avoided by filling updated return under Section 139 (5). The last date to file ITR is 15 September.