TVS Holdings redeemed NCRPS on 22-MAR-2024. Refer news: https://www.thehindu.com/business/tvs-holdings-plans-to-redeem-ncrps-on-march-25/article67899429.ece
On 16-JUN-2023 , 232 NCRPS were credited on my trading account. On 22-MAR-2024, I received Total Amount : RS 2528.8
Breakdown of the amount: Redemption Amount: RS 2320 Coupon Payment: RS 208.8
Could you please confirm how above amounts would be taxed?
As the NCRPS are redeemed within a year (i.e. matured and NOT SOLD) , is Redemption Amount : RS 2320 STCG and taxable as per Income Tax Slab rate? Also is Coupon Payment taxation same as Dividend/Interest? i.e. is Coupon Payment of RS 208.8 STCG and taxable as per Income Tax Slab rate?
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