Save Tax on Bharat Bond April 2023 again repurchased as April 2025
This query is : Resolved
23 July 2024
Hi Experts,
I bought Bharat Bond April 2023 in May 2020.
Unfortunately, I was forced to sell in April 2023 because the term got over.
NOTE: I did not want to sell and incur Short Term Capital Gain. The tax is quite high. (May 2020 to April 2023 is just under 3 years)
So, I immediately bought Bharat Bond April 2025 (exact consideration amount), hoping to make it a Long Term Investment (which was the initial intention)
Now my AIS shows Short Term Gains due to Sale of Bharat Bond 2023.
I want to show Long Term Capital Gain when I sell Bharat Bond 2025 in FY 2024-25.
Please suggest how I can save tax.
Thanks,
Kapil
I bought Bharat Bond April 2023 in May 2020.
Unfortunately, I was forced to sell in April 2023 because the term got over.
NOTE: I did not want to sell and incur Short Term Capital Gain. The tax is quite high. (May 2020 to April 2023 is just under 3 years)
So, I immediately bought Bharat Bond April 2025 (exact consideration amount), hoping to make it a Long Term Investment (which was the initial intention)
Now my AIS shows Short Term Gains due to Sale of Bharat Bond 2023.
I want to show Long Term Capital Gain when I sell Bharat Bond 2025 in FY 2024-25.
Please suggest how I can save tax.
Thanks,
Kapil
23 July 2024
Repurchase of these bond doesn't mean continuation of earlier investment.
They are two different events. One is sell which is independent of new purchase.
They are two different events. One is sell which is independent of new purchase.
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