Taxontips
No Result
View All Result
Tuesday, December 5, 2023
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Glenmark Life Sciences IPO allotment status and capital gain tax on selling shares in IPO allotment | Capital gain on IPO

Income tax Expert by Income tax Expert
August 3, 2021
in Business & Other News, Income Tax News
0
Glenmark Life Sciences IPO allotment status and capital gain tax on selling shares in IPO allotment | Capital gain on IPO
111
SHARES
1.4k
VIEWS
image_pdfPDFimage_printPrint

Incorporated in 2011, Glenmark Life Sciences is the leading manufacturer of Active Pharmaceutical Ingredients (APIs). The company develops, manufactures, and supplies high-quality APIs for cardiovascular disease (CVS), central nervous system disease (CNS), pain management, and diabetes, gastrointestinal disorders, anti-infectives, and other therapeutic areas. It further operates in Contract Development and manufacturing operations (CDMO) to offer services to specialty Pharmaceutical companies.

Its products are being sold in India and also exported to multiple countries i.e. Europe, North America, Latin America, Japan, etc. Currently, it has 4 manufacturing facilities at Ankleshwar and Dahej in Gujarat and Mohol and Kurkumbh in Maharashtra State with an aggregate annual installed capacity of 725.8 KL as of December 31, 2020.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in million)
31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 19,970.75 17,256.04 14,753.95
Total Revenue 18,859.76 15,493.03 8,868.65
Profit After Tax 3,515.81 3,130.98 1,955.92

Objects of the Issue:

  • To make payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the promoter into the company.
  • To finance capital expenditure requirements.
  • To meet general corporate purposes.

Glenmark Life Sciences IPO Subscription Status (Bidding Detail)

The Glenmark Life Sciences IPO is subscribed 44.17x times on Jul 29, 2021. The public issue subscribed 14.63x in the retail category, 36.97x in the QIB category, and 122.54x in the NII category.

Category IPO Subscription
QIB  36.97x
NII  122.54x
RII  14.63x
Total  44.17x

 

Here are the steps that investors can take to view the Glenmark IPO allotment status:

For BSE

Step 1: Visit the official website https://www.bseindia.com/investors/appli_check.aspx

Step 2: On the homepage, select the issue type and issue name.

Step 3: Enter your application number and PAN. Now clear the security check and click on search.

Step 4: Your IPO allotment status will be displayed.

 

For KFin Tech

Step 1: Visit the website kosmic.kfintech.com.

Step 2: On the homepage, select IPO and application type.

Step 3: Now type in your application number and security key. Click on submit.

Step 4: Your share allotment status will be displayed on screen.

 

Capital gain tax on sale of shares received in IPO allotment:

Now, let’s talk about the taxability of gain earned if the shares are sold on the listing date itself to get listing gain by way of premium on listing and if the same is sold after some time.

There can be two types of gain’s: (i) long term or (ii) short term.
Since the shares are going to be listed on stock exchange hence, if the shareholder sell such shares on the recognised stock exchange, such shares will be considered as long term asset if they are held for more than one year and will be considered as short term if they are held for a period less than 1 year.
The taxability of such shares will be calculated based on section “111A for short term gain” and “112A for long term gain” wherein tax rate of short term gain is 15% of the gain and for long term gain the tax rate is 10% of the gain amount.
Looking at the current scenario we know that many people sell their shares on the listing day itself to earn the listing premium and hence the gain earned by such transaction will be considered as short term capital gain as the assessee held shares for less than one year period and hence he/ she shall be liable to pay tax at the rate of 15% on such gain under section 111A of the Income tax Act.
However if the shareholder holds the share for more than one year from the date of listing as the specialty chemical sector is likely to see boom in next year then he or she shall be liable to pay tax at the rate of 10% on the gain amount under section 112A of the Income tax Act.
Further, for long term capital gain no tax needs to be paid on the initial Rs. 1 lakh gain u/s 112A of the Income tax Act and no benefit of indexation will be available in case of long term gain since the shares are listed and sold on recognized stock exchange.
In case of long term capital gain one can claim exemption u/s 54F by investing the entire sale consideration in a new residential house and if the conditions mentioned under section 54F are fulfilled, other than section 54F there are no other way to save capital gain tax.
Also, the tax rates mentioned above are just base rates and surcharge and cess will also be added accordingly on such tax rates.

You can book phone consultation/ assistance online with expert as mentioned below:

To book ITR filing with experts CLICK ME.

To book phone consultation with experts for any Income tax related matters CLICK ME.

To book consultation for Faceless Assessment with experts CLICK ME.

To book phone consultation with experts for GST related matters CLICK ME.

To book general phone consultation with expert CLICK ME.

image_pdfPDFimage_printPrint
Tags: capital gain on IPO salecapital gain on sale of IPO shareshow to calculate capital gain taxhow to calculation capital gain on sharesHow to check IPO allotmentincome tax on sale of sharesIPO allotment statusIPO capital gainshares received in IPOtaxontips
Previous Post

Extension of time lines for electronic filing of various Forms under the Income-tax Act,1961

Next Post

PM Launches e-Rupi digital payment solution system on 02.08.2021 | e-Rupi Digital Voucher

Related Posts

Income tax Appellate Tribunal (ITAT) to not function from 17.03.2020 to 27.03.2020
Income Tax News

Penalty of Rs.10 lakh per year for not disclosing foreign asset under Schedule FA in ITR [Read order]

December 4, 2023
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

What is short stay exemption available under Indian Income Tax Act?

December 1, 2023
Due date for Tax audit for A.Y. 2019-20 extended from 30th September to 31st October
Income Tax News

What is discard return? How to discard Income tax return? FAQ on discard return

November 29, 2023
CBDT issues circular for detailed explanation on TDS deduction u/s 192 of the Income tax act
Income Tax News

Inoperative PAN resulting in TDS notice to deduct TDS at the rate of 20%. Here’s why?

November 16, 2023
Calculation sheet for comparison of tax payable under new and old tax regime for individual and HUF – 115BAC
Income Tax News

Comparison between Section 115BAC before and after AY 2024-25

November 15, 2023 - Updated on November 16, 2023
Compliance due dates for June, 2020 | Compliance calendar for June, 2020 | 20+ compliances
Business & Other News

Statutory Compliance Calendar for November 2023 | Income tax, GST and various other laws

November 9, 2023
Next Post
PM Launches e-Rupi digital payment solution system on 02.08.2021 | e-Rupi Digital Voucher

PM Launches e-Rupi digital payment solution system on 02.08.2021 | e-Rupi Digital Voucher

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Penalty of Rs.10 lakh per year for not disclosing foreign asset under Schedule FA in ITR [Read order]
  • GST Revenue collection for November 2023, at ₹1,67,929 lakh crore
  • What is short stay exemption available under Indian Income Tax Act?
  • Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline
  • What is discard return? How to discard Income tax return? FAQ on discard return

Recent Comments

  • Srinivasan Venkatasubramanian Venkatasubramanian on GST turnover limit for services increased to Rs. 40 lakh by CBIC?
  • Notification under PMLA by Ministry of Finance which could affect CA, CS and CMA - Taxontips on CA, CS and CMA now under PMLA. KYC of clients required
  • ITR 4 is now available on e-filing website for FY 2022-23 i.e. AY 2023-24 | File ITR with experts on Taxontips – Taxontips on Businessman with turnover below 1 crore and having profit below 8% need to compulsorily get books of accounts audited: Let’s find out
  • Can a person earning income from speculative business transaction file return u/s 44AD of Income tax act - Taxontips on How to calculate turnover in case of intra day and future and option trading for Income Tax purpose?
  • Extension of last date for updation of Member’s Profile with GSTIN at Self Service Portal – Till 23rd April, 2023 - Taxontips on Updation of Member’s Profile at Self Service Portal with GSTIN to get GST credit till 15.04.2023

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

December 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Nov    
  • GSTR 9/ 9C extended : AGAIN

    GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning

    6458 shares
    Share 2583 Tweet 1615
  • How to pay Membership and COP fees of ICAI for 2020-21 |

    6358 shares
    Share 2543 Tweet 1590
  • Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods

    5753 shares
    Share 2301 Tweet 1438
  • Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020

    4772 shares
    Share 1909 Tweet 1193
  • SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type

    4000 shares
    Share 1600 Tweet 1000

Recent Notification

Income tax Appellate Tribunal (ITAT) to not function from 17.03.2020 to 27.03.2020

Penalty of Rs.10 lakh per year for not disclosing foreign asset under Schedule FA in ITR [Read order]

December 4, 2023
GST registration

GST Revenue collection for November 2023, at ₹1,67,929 lakh crore

December 2, 2023

RSS Taxontips

  • Penalty of Rs.10 lakh per year for not disclosing foreign asset under Schedule FA in ITR [Read order]
  • GST Revenue collection for November 2023, at ₹1,67,929 lakh crore
  • What is short stay exemption available under Indian Income Tax Act?
  • Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline
  • What is discard return? How to discard Income tax return? FAQ on discard return
  • CGST Delhi East busts a syndicate of 48 fake firms availing fraudulent ITC of over ₹199 crores in “Operation Clean Sweep”, 3 arrested
  • ITC reversal on account of Rule 37(A) by the recipient
  • Inoperative PAN resulting in TDS notice to deduct TDS at the rate of 20%. Here’s why?
  • Comparison between Section 115BAC before and after AY 2024-25
  • Advisory for the procedures and provisions related to the amnesty for taxpayers for filing appeal under GST

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Q & A
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!