capital gain on deep discount bonds
This query is : Resolved
27 January 2010
My question is : What will be the tax treatment of Deep Discount Bonds on maturity which was originally purchased in 1995?
Please reply soon.
Please reply soon.
27 January 2010
If the bond matures, the redemption price minus the issue price will be charged as interest income.
If you sale before maturity, the difference between Sale price and issue price will be charged to capital gains.No indexation is allowed as section 48 of the I T Act does not permit indexation incase of bonds and debenture.
If you sale before maturity, the difference between Sale price and issue price will be charged to capital gains.No indexation is allowed as section 48 of the I T Act does not permit indexation incase of bonds and debenture.
29 January 2010
thank u sir 4 ur reply!!!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Copyright software
- Transporter Declaration form
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- RULE 86B APPLICABILITY IN QRMP TAX PAYER
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
