Hello Folks, I sold some NCDs after period of 3 years - Have gained capital gains. This will come under LTCG NCD. As per the rules, LTCG NCDs are taxed at 10% without indexation.
I see there is a category called as Bonds or debenture (other than capital indexed bonds issued by Government) in Schedule Capital Gains.
The problem with filing in this is it accepts without indexation and calculates the tax at 20% ! . So this seems like not the correct category.
There is one more section called - “Listed securities (other than a unit) or zero coupon bonds where proviso under section 112(1) is applicable”
This takes values without indexation and applies 10% tax for LTCG - This appears to be the correct category.
Can anyone please help me or confirm this .
CAclubindia
