Debentures sold on 30/04/2018 for Rs. 60000.
Acquired on 26/07/2015 for Rs. 40000.
Interest accrued on 30/06/2018 but accounted as income on 31/03/2018 on accrual basis of Rs 1250.
Amount of Capital gain on sale of debentures?
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Capital gain on sale of debentures.
Replies (12)
60,000 - 40,000(indexation is required) - STT paid = Gain / Loss.
but this is short term capital gain as debentures were sold within 36 months.
Although benefit of indexation is not available in case of bonds and debentures
Although benefit of indexation is not available in case of bonds and debentures
Debentures are securities and holding period is 12 months.
i want to know, if there is any treatment of interest accounted on accrual basis as interest was not received because of sale of debenture before interest date. But the same was already taxed
Ohh sorry, debentures holding period is 3 years i.e 36 months so gain will be 60000-40000 = 20000/-
but this is the case of unlisted debentures
No, at the time of sale no treatment to interest will be given
is there any case law or provision in the act regarding the same
No. Why do you need same?
Its clear that interest income wont be included in calculation because only sale value and cost of acquisition are included in calculation rest is taxed as and when received.
but interest income is already taxed on accrual basis on 31.03.2018. But debentures were sold before receiving interest i.e, before 30.06.2018.
we will not received any interest after sale but same waa taxed earlier
we will not received any interest after sale but same waa taxed earlier
You got the right to receive the same so from the person you selling the same you can claim that interest back.
but interest income is already taxed on accrual basis on 31.03.2018. But debentures were sold before receiving interest i.e, before 30.06.2018.
we will not received any interest after sale but same waa taxed earlier
we will not received any interest after sale but same waa taxed earlier
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