Query related to STCG (Short term capital gain)

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sushrutji29544
Hi dimers,
So I have been allotted 1 lot of an IPO today. Listing is tomorrow, and I am expecting great listing gains. I Would have loved to sell all shares tomorrow itself but the problem is I am on the verge of getting into tax slab so I don't want to increase my taxable income through STCG this financial year (FY 23-24).
So If i sell the shares on 1st April 2024, will the profit of selling those shares(STCG) will be added in FY 24-25 OR 23-24?  please guide. Or if there's another solution, pls advice
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Deal Cadet Deal Cadet
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stcg is taxed differently @ 15% flat rate irrespective of your income. If your income is zero still you will be taxed at 15%

Commentator Commentator
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that's incorrect... say you have only Short Term Capital Gain of 2,50,000 as the only income then its zero tax as its under 2.5L taxable income limit, now if you have 2,51,000 as STCG then 1000 will be taxed at 15% and tax will be 150Rs

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Commentator Commentator
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selling the shares on 1-Apr-24 will be for next FY only i.e. 24-25 but what if the share price reduces as you still have some 15 trading days (no issues if it keeps increasing till 1-Apr 😄)

Flame Flame
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Bas isi baat ka to dar hai sweat_smile sweat_smile because after 2-3 days of listing, share price reduces. Lets see

Deal Cadet Deal Cadet
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stcg is taxed differently @ 15% flat rate irrespective of your income. If your income is zero still you will be taxed at 15%

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Means there will be no difference in taxable income for FY 23-24, whether I sell those shares tomorrow or on 1st April?

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Pro Entertainer Pro Entertainer
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Kaunsa IPO lag gaya?

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Mukka Protein

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Deal Subedar Deal Subedar
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This cannot be answered without knowing your actual income, the ipo listing price and the tax regime you are choosing along with deductions if any.

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Taxable income from salary is approx 7.3 L, FD returns will be approx 13k, and few thousands will be interest from savings accounts. So overall, everything is few thousands lesser than 7.5 L. Thatswhy I went with New tax regime. Now fortunately or unfortunately , I got this IPO, making things confusing sweat_smile kindly help

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Like Magnet Like Magnet
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images520240307003537

Commentator Commentator
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congrats OP as its a great listing today - 50%, guess your IPO price was 26-28?

image

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Thank you bhai, yes ipo cutoff price was 28. Its approx 50% gains as of now.

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