Is ipo profit booked on listing date taxable
Yes, if you sell an IPO on the listing date with a capital gain, then the gain falls under short-term capital gains and is taxed.
Yes indeed, it will be considered as SHORT TERM CAPITAL GAIN and will be taxed @ 15%
In whole financial year I am doing trading in F&O and intraday trade in equity cash segment only. No any delivery trade during the financial year.
Now my intention to apply in IPO is only for listing gain so I sell it on listing day @ open price. Hence, logically, it must be considered as speculative business income and not short term capital gain.
Request guidance from taxation export.
I am not a taxation expert, but from what I read about this online, all sources say that listing gains are treated as capital gains.
Here is a different logic with a different conclusion: the shares that you get from the IPO were credited to your demat account, and will be debited from your demat account when you sell them. Since these transactions happened with respect to your demat account, the gains/losses involved are capital gains/losses, and not speculative gains/losses.
As far as I understand, when you do intraday trades in equity, nothing is debited or credited to your demat account. This is why intraday trades are considered speculative. This criterion is not satisfied by listing gains, and so they are not speculative.