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?
New Delhi: CG Power and Industrial Solutions on Friday posted a consolidated net profit of Rs 294.13 for March quarter 2020-21 on the back of higher revenues.
The company had reported a loss of Rs 288.06 crore in the year-ago period, a BSE filing said.
Total income rose to Rs 1,134.58 crore in the quarter from Rs 636.67 crore in the same period a year ago. The consolidated net loss of the company narrowed to Rs 393.97 crore in 2020-21 from Rs 2,166.94 crore in the previous year.
Total income in the fiscal year stood at Rs 3,065.87 crore compared to Rs 5,158.01 crore in 2019-20. In preparation of the financial results, assessment of the recoverable value of its assets based on the internal and external information considers impact of Covid-19 and current indicators of future economic conditions.
CG Power said there was no material impact of Covid-19 on the company.