Taxation on ncds
This query is : Resolved
18 December 2014
I have allotted 100 NCDs of a company on 1st April 2012 at face value of Rs.1000/- making investment amount of rs 1,00,000/- Interest 11% compounded annually payable at maturity after five years having maturity value of Rs. 1,68,500/- . on 6 December 2014 i have sold these ncd in secondary market at Rs. 1400 per NCD getting Rs 1,40,000/-
Please tell me taxation for these NCD as i have sell them before maturity in market . Please note that i have shown accrued intrest upto 31 march 2014 in my previous returns totaling of 23,210
Please tell me taxation for these NCD as i have sell them before maturity in market . Please note that i have shown accrued intrest upto 31 march 2014 in my previous returns totaling of 23,210
Amol S Joglekar
(Expert)
18 December 2014
Show the difference 140,000-123210 = 16790 as short term capital gain.
18 December 2014
Totally agreed sir difference will be shown at Captial gain . Just confirm me that will it not be Long term Captial Gain as i hold NCDs more than 12 month period ie period from 1 April 2012 to 6 December 2014
Amol S Joglekar
(Expert)
18 December 2014
Yes, it can fall under the definition of security u/s 2 h of Securities Contract Regulation Act
The gain is LONG Term and not short Term.
Thank you for the query.
The gain is LONG Term and not short Term.
Thank you for the query.
19 December 2014
Thanks for your Expert Advice . I will do as directed by you.
Amol S Joglekar
(Expert)
19 December 2014
Sure.
Thank you once again.
Thank you once again.
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
- Gst credit note by supplier
- Missed uploading GST Invoice
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Query on effect of registration of property
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
