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?
Gone are the days when banking was considered an elite indulgence. With the rise of payments banks, especially India Post Payments Bank (IPPB), the financial inclusion of rural India into the banking system has become a breathing reality.
IPPB boasts of a network that expands across India with 650 branches/controlling offices, working on a hub and spoke model. However, with the simultaneous rise of technology – one does not even have to visit their nearest post office to create an account today. Your IPPB account can literally be active within minutes if you are an Indian citizen above 18 years of age and have a mobile phone with functional internet.
Here are the steps to open an IPPB account:
- Download the IPPB Mobile Banking application from the Play Store (Android) or Apps Store (iOS)
- Enter your PAN card number and Aadhaar card number
- Enter the OTP received on the linked mobile number
- Fill in all the personal information such as – parents name, educational qualification, address and nominations
- After submitting all the details, an account will be opened. This can be accessed through the IPPB app.
However, it is important to note that a digital savings account is valid only for 12 months. To convert it into a regular savings account, biometric authentication must be completed at the nearest India Post branch.