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Capital Gain

Goongan (Student) (450 Points)

10 May 2007

In order to calcuate CAPITAL GAIN on sale of BONDS/DEBENTURE whay indexation of cost not done? :D

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Avinasheswar (Business Consultant) (117 Points)
Replied 28 May 2007

Second Proviso to section 48 talks about indexation and see what Third Proviso to same section contains which is as follows: Provided also that nothing contained in the second proviso shall apply to the long term capital gain arising from the transfer of a long term capital asset being bond or debenture other than capital indexed bonds issued by the Government. Hope your doubt is cleared

Avinasheswar (Business Consultant) (117 Points)
Replied 28 May 2007

Second Proviso to section 48 talks about indexation and see what Third Proviso to same section contains which is as follows: Provided also that nothing contained in the second proviso shall apply to the long term capital gain arising from the transfer of a long term capital asset being bond or debenture other than capital indexed bonds issued by the Government. Hope your doubt is cleared

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