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!!!
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