are the debt funds included in the defination of listed security in following 10% bracket
Where the tax
payable in respect of any income arising from the transfer of a listed security (other than a
unit) or a zero coupon bond, being a long-term capital asset, exceeds 10% of the amount of
capital gains before indexation, then such excess shall be ignored while computing the tax
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Section 112 of capital gain
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Quick Summary
following is the extract from section 112, pl note.
Explanation.—For the purposes of this sub-section,—
(a) the expression "securities" shall have the meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (32 of 1956);
(aa) "listed securities" means the securities which are listed on any recognised stock exchange in India;
(ab) "unlisted securities" means securities other than listed securities.
following is the definition of securities as per section 2 of the Securities Contracts (Regulation) Act, 1956
(h) “securities” include—
(i) shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate;
Unit means units of mutual funds?
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