Tips to save IPO listing gains tax!
In the years 2023 and 2024, many IPOs brought huge earnings for the investors. But tax also has to be paid on this! What is the tax rule on booking listing gains from IPO? How can tax liability on listing gains be reduced? How will the tax be calculated on selling IPO shares?
There is good news for HDFC Bank customers. The bank has now enabled a new facility that will allow people to withdraw cash from ATMs without debit cards. With the ‘Cardless Cash Withdrawal’ service, the bank has broken traditional necessity of debit cards in order to avail cash at any HDFC Bank ATM hereafter.
“Forgot your ATM card? Don’t worry HDFC Bank Cardless Cash is #DigitallyYours with 24X7 services to withdraw cash at all HDFC Bank ATMs. Enjoy instant and secure mode of cash withdrawals without ATM/Debit Card,” HDFC Bank wrote on Twitter.
Forgot your ATM Card? Don’t worry, HDFC Bank Cardless Cash is #DigitallyYours with 24X7 service to withdraw cash at all HDFC Bank ATMs.
Enjoy instant and secure mode of cash withdrawals without ATM / Debit Card.
To know more, visit: https://t.co/foq6Uq144f pic.twitter.com/xIJK6YI7do
— HDFC Bank (@HDFC_Bank) July 29, 2021
According to the official website of HDFC, cardless cash withdrawal requests can be initiated for a minimum of Rs 100 per transaction and up to a maximum of Rs 10,000 per day or Rs 25,000 per month for a beneficiary (The limits are subject to change as per regulatory guidelines).
Meanwhile, a successful cardless cash withdrawal request will be valid for a period of 24 hours from the time of creation of request. After expiry of 24 hours, the request will be reversed to the initiator’s account which was debited. The facility will be available round the clock at all the designated HDFC ATMs.
Withdrawal process
The first step towards cardless cash withdrawal is to add a beneficiary to your account. For first-time users, a beneficiary needs to be registered. This can be done via net banking and is needed only once every time you add a new beneficiary.
– Login to net banking
– Select Funds Transfer tab >Request > Add a Beneficiary > Cardless Cash Withdrawal
– Enter the beneficiary details, click on Add and Confirm
– Confirm the mobile number and enter the OTP received for validation
The bank noted that it may take up to 30 minutes for the beneficiary details to finally reflect in your account. You can now transfer money to the beneficiary by following the below steps.
– Login to NetBanking
– Select Fund Transfer >>> Cardless Cash Withdrawal
– Select the Debit Bank Account
– Select beneficiary from list of registered beneficiaries (Mobile number gets auto-populated)
– Check the beneficiary details, enter the amount, click on continue and confirm
– Confirm the mobile number and enter the OTP to validate the transaction
– The beneficiary will receive an SMS containing the OTP, nine-digit order ID, and the amount
To withdraw cash from the ATM as a beneficiary, follow these steps
– The beneficiary visits HDFC Bank ATM and selects Cardless Cash (option will be displayed in IDLE loop screen)
– Select the language
– Customer will be asked to enter the following details in a sequential manner
Once the above details are validated, the cash will be disbursed by ATM as usual.
Meanwhile, several other banks have previously launched the cardless cash withdrawal facility at their ATMs. This includes the likes of State Bank of India, Bank of Baroda and ICICI Bank among others. HDFC Bank is the newest addition to the list.