13 May 2008
As per 3 proviso of section 48 indexation of cost is not to be done for debentures. Howeveras per section Taxability of LTCG, listed security is chargeable to tax @20% with indexation or 10% without indexation whichever is nore beneficial to the investor. So whether indexation can be applied for listed debentures also & what will be the tax rate.
CAclubindia
