NCD INVESTMENT & tax implications

No tax benefit for investment in NCD. The interest is taxable.  Any appreciation on redemption attract capital gains.

Ncd if u mean i.e.Non conv.deb of cos etc. There is no Tax exemption or Tax benefit Rather int. is taxable .further appreciating in value on redemption is also taxable.
However there is one benefit that Tds not deducted & no Form 15 G/H is to be submitted provided investment in Ncd is thr Depository pl.