Taxability of sbi listed bonds
This query is : Resolved
24 August 2011
Last year sbi has issued unsecured bonds . SBI is paying simple interest @ 9.75 of whole year on 31-3 .These bonds are also traded on BSE/ NSE . Interest received on 31-3 is taxable as income from other sources ? gain/loss on sale of bond on nse is taxable as long term/ short term ? if long term ( after 12M)benefit of indexation is available or not. In nutsell interest received on 31-3-11 for first year is taxable as income from other sources or not and if the same is sold on 01-08-11 for 10400 ( cost of purchase 10000), Rs. 400 is taxable as interest or long term gain . If as long term gain , indexation is available ?
code of nse : SBIBD1
code of nse : SBIBD1
CA. Anoop Gadia
(Expert)
24 August 2011
if investment having more 12 m period than it is eligible for indexation.
interest taxable in other source and gain taxable under long term gain.
interest taxable in other source and gain taxable under long term gain.
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