Query on Int.Accrued on cumulative NCD listed on Stock Excha
This query is : Resolved
pankaj ajmera
(Querist)
14 January 2010
I have purchased NCD ( Non-Convertible Deb.) of Tata Capital on 06.03.2009 on
following terms .
1 ) Face value –Rs.1000
2 ) Int.payment-cumulative
3 ) Coupon ( % ) –12% to be compounded annually on 31st March every year
4 ) Tenor – 60 months.
The question that arises are as follows.
1 ) Am I require to pay tax on int. accrued up to 31st March every year.
2 ) If I treat this as capital asset & i sell it on stock exchange after one year
whether I need to pay only capital gain tax ?
Experts please advise :
Pankaj Ajmera
following terms .
1 ) Face value –Rs.1000
2 ) Int.payment-cumulative
3 ) Coupon ( % ) –12% to be compounded annually on 31st March every year
4 ) Tenor – 60 months.
The question that arises are as follows.
1 ) Am I require to pay tax on int. accrued up to 31st March every year.
2 ) If I treat this as capital asset & i sell it on stock exchange after one year
whether I need to pay only capital gain tax ?
Experts please advise :
Pankaj Ajmera
Aditya Maheshwari
(Expert)
14 January 2010
Interest to be accured every 31st March.
If sale meets the defination of security as mention in section 10(38) and STT paid on sale then the same should not be liable for long term capital gains tax
If sale meets the defination of security as mention in section 10(38) and STT paid on sale then the same should not be liable for long term capital gains tax
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
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- Import Order Cancelled.
- TDS on Dashcam rent and allied services
- Capital Gains Tax on Inherited Mutual Fund
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
