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?

In the unfortunate incident that you have been infected with the COVID-19 virus and are in quarantine, Indian Oil Corporation has come out with a 5 kg ‘Chotu’ cylinder, which might be of use to you.

Compared to the price of Rs 835 of a domestic 14.2 kg cylinder, this one is priced at Rs 500 and contains 5 kg of gas, which makes it far more expensive than the traditional cylinder.

Off the shelf

You don’t have to book it through the conventional route or wait for a day or two for these cylinders. One can walk in to a LPG dealer and buy a ‘Chotu’ cylinder.

The only document that you are needed to furnish is an identity proof. No security deposit or address proof is required.

Once the cylinder runs empty, a refill can be obtained from any distributor across the country.

“Chotu was launched by IOC keeping in mind the needs of specific segments, including migrant labour with no current address proof, young professionals, and corona-affected households with limited LPG consumption. And has become a hit within three months,” said an IOC official.

Where can you buy?

‘Chotu’ is available in almost every district across the country. You can obtain these cylinders from Indane distributor in your area or point of sale Indian Oil retail outlets, kirana stores and even from local supermarkets.

If the cylinders are bought from Point of Sales, customers would also have the option to buy back with a fixed amount of Rs 500 per cylinder, irrespective of duration of use.

Customers can also have them delivered at home through Point of Sales by paying an additional delivery charge of Rs 25 per refill.

Gamechanger

The 5-kg cylinder is becoming popular with low-income groups as well as young professionals and single persons who do not have the requirement for the traditional 14.2-kg cylinder, said an IOC official.

Till March, IOC has sold nearly 92 lakh cylinders since its launch in December 2020.

Published: April 27, 2021, 14:27 IST
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