maturity od sardar sarovar deep discount bonds
This query is : Resolved
26 July 2010
what is the taxability on redemption of sardar sarovar narmada nigam ltd deep discount bond when such bonds are purchased in 1993.
24 November 2011
If the bond matures, bonds the difference between the redemption price and the issue price of Deep Discount Bonds will be charged as interest income under the Income Tax Act, 1961.
On transfer of deep discount bonds before maturity, the difference between the redemption or sale price and cost of acquisition shall be charged to the capital gain if the assessee purchased them by way of investment. However, in the case of an assessee who deals in purchase and sale of Bonds, Securities, etc., the profit or loss shall be treated as trading profit or loss.
On transfer of deep discount bonds before maturity, the difference between the redemption or sale price and cost of acquisition shall be charged to the capital gain if the assessee purchased them by way of investment. However, in the case of an assessee who deals in purchase and sale of Bonds, Securities, etc., the profit or loss shall be treated as trading profit or loss.
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