Capital Gain
This query is : Resolved
29 June 2011
Wheather the amount recieved on redemption of preference share or debunture taxable under capital gain? Can Redemption be considered as transfer of capital assets u/s 2(47)?
29 June 2011
For capital gains on redemption of preference shares it is to be treated as capital gains. Apply the index cost and find out if any capital gain arising on redemption of preference shares. The preference shares are not traded and listed in Stock exchange and accordingly all rules as applicable to capital gains shall be applicable it might be long term or short term. This depends on holding of the assets.
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