Tax on Listed NCDs
This query is : Resolved
21 January 2011
Sir i have got 10 listed Ncds each of Rs1000 during ipo allotment for 11% cummulative scheme on sep/2009 but after 5 months I have purchased 10 more same ncds on bse exchange at price of Rs. 1045 .
My question is what is the tax treatement on the above ncd.
thanks
My question is what is the tax treatement on the above ncd.
thanks
21 January 2011
when you sell the ncds, it will be considered as capital gains and will be taxed accordingly. if you sell it within 1 year it will be short term capital gains and will be taxed at the prescribed rates and if you sell it after 1 year it will be considered as long term capital gains and thus will be exempted since these are listed securities.
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