Prince Mittal (25 Points)
22 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 January 2019
60,000 - 40,000(indexation is required) - STT paid = Gain / Loss.
Prince Mittal
(25 Points)
Replied 22 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 January 2019
Debentures are securities and holding period is 12 months.
Prince Mittal
(25 Points)
Replied 22 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 January 2019
Ohh sorry, debentures holding period is 3 years i.e 36 months so gain will be 60000-40000 = 20000/-
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 January 2019
No, at the time of sale no treatment to interest will be given
Prince Mittal
(25 Points)
Replied 22 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 January 2019
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.
Prince Mittal
(25 Points)
Replied 22 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 January 2019
You got the right to receive the same so from the person you selling the same you can claim that interest back.
Prince Mittal
(25 Points)
Replied 22 January 2019
CAclubindia
