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?
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 45 points at the opening bell. Overseas, Asian stocks traded mixed on Wednesday trade, as data showed Japan’s economy grew faster than previous estimates. Japan’s economy grew faster than initially estimated in the April-June quarter. Revised gross domestic product (GDP) data by the Cabinet Office released on Wednesday showed the economy grew an annualised 1.9% in April-June, from an initial estimate of a 1.3% expansion. Here is the list of top stocks that could be in focus on September 8, Wednesday.
Wipro: Wipro announced a partnership with Securonix, a Gartner Magic Quadrant Leader SIEM (Security Information and Event Management) vendor, and provider of the Securonix Security Operations & Analytics Platform. The partnership brings together Securonix’s cloud-first SIEM, analytics-driven detection and automated response tools with Wipro’s global reach and cybersecurity intelligence capabilities to provide organizations with improved governance and security threat protection.
Maruti Suzuki India: The auto major said that production in August dropped to 113,937 units against 123,769 units (YoY). Production volume in August was affected due to an electronic components shortage.
TVS Motor Company: The two-wheeler firm announced their new distribution partnership with ETG Logistics (ETGL). ETGL will operate 30 dealerships for TVS Motor Company in South Africa as part of this partnership. The company will also support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM), including the assembly set-up and training centre in Johannesburg.
EID Parry: The company said that its board of directors has approved the setting up of a 120 KLPD Grain/Sugar Syrup/Molasses based distillery at the company’s Sankili unit in Andhra Pradesh.
PSP Projects: PSP Projects said the company is in receipt of Letter of Intent(s) for projects worth Rs 132.57 crore towards industrial and precast segments from different clients in Gujarat.
MAS Financial Services: The company announced co-lending partnership with the Bank of India for MSME loans.