Grip Investment Declaration (GID) is a document that summarizes your investments and returns earned for investments done via Grip platform.
For the leasing and inventory deals executed through LLP structure, the GID will have relevant information and schedules similar to the information required in your Income Tax Return (ITR).
Corporate Bonds are issued by certain Corporates and NBFCs and Grip doesn’t have visibility on their payouts hence we shall provide you with only the amount invested through our platform. For the interest earned and Capital gains in case of secondary sale, Investor has to rely on the information provided by the Issuer Corporate or Depository Participant.
For SDI based products (LeaseX, Loanx, BondX, InvoiceX) we shall share with you the required information for filing your ITR. In case you have sold the SDIs in a secondary transaction, you will have to rely on the information shared by your Depository Participant.
We will be sharing the Grip Investment Declaration (GID) in the last week of June 2024. It will be uploaded on your portfolio page on www.gripinvest.in and you will be notified of the same through an email. Financial year for every LLP closes on 31st March and the accounting books for the LLP’s generally take 10-12 weeks that follow. Because of the different processes involved in closing LLP Books, GID can be provided only at the end of June 2024.
There will be only one GID issued per investor for a financial year. This document will summarize all the investments made by the investor through Grip.
Yes, the GID includes all the relevant information relating to your investment and returns earned on investments made through Grip platform. It will be useful for a CA or tax advisor to file your ITR as it contains a summarised report of all investments and returns therein.
