A reader has identified an error within the Capital Positive aspects Prepared Reckoner concerning the indexation of listed and unlisted bonds/debentures. Based on the 4th Proviso beneath Part 48, indexation just isn’t accessible for debentures/bonds.
Abdul says, “In your Freefincal capital good points tax prepared reckoner, there may be an error concerning the Indexation on the Listed & Unlisted bonds/debentures. As per the 4th Proviso beneath Part 48, Indexation just isn’t accessible for debentures/bonds. This might solely impact a small portion of gross sales between 1st April 2024 to twenty second July 2024 for FY 2024-25”.
Tax knowledgeable Manmohan Sethumadhavan has kindly offered a revised Capital Positive aspects Taxation Guidelines Prepared Reckoner for FY 2025-2026, incorporating the next modifications.
The SGB & ZCB will proceed to be in 20%! or 10%, whichever is decrease class.
Within the Prepared Reckoner, that is relevant to :
- Listed Bonds, SGB, ZCB
- Unlisted Bond/ Debenture
There isn’t a doubt almost about these devices bought on or after 23-07-2024. All these are relevant for LTCG for these bought earlier than.
- 2nd proviso to part 48 offers for indexation for transfers earlier than 23-07-2024.
- 4th proviso to part 48 says that such indexation just isn’t accessible for bonds or debentures apart from:
- Capital Listed Bonds issued by the Authorities; or
- Sovereign Gold Bond issued by the Reserve Financial institution of India.
Subsequently, indexation continues to be relevant to Capital Listed Bonds and SGBs.
- 1st proviso to part 112 permits to disregard something in extra of 10% of good points calcuated with out indexation, in case of listed bonds and ZCB. As SGB is listed, that is relevant to them.
So, the next modifications are being made:
- SGB : Sec.48 professional.2 & Sec.112 professional.1 relevant. LTCG tax @ 20% with indexation or 10%. No change. Outdated Sl.No.15. New Sl.No.15.
- ZCB : Indexation not relevant. Sec.112 professional.1 (10%) relevant. Thus both 20% with out indexation or 10% with out indexation. So LTCG tax @ 10%. Outdated Sl.No.15. New Sl.No.16.
- Different Listed Bonds : Indexation not relevant on account of Sec.48 professional.4. Sec.112 professional.1 (10%) relevant. Thus both 20% with out indexation or 10% with out indexation. So LTCG tax @ 10%. Outdated Sl.No.15. New Sl.No.16.
- Unlisted Bonds : Sec.48 professional.2 relevant and therefore indexation not accessible. Sec.112 professional.1 (10%) not relevant being unlisted. Therefore LTCG tax @ 20% with out indexation. Outdated Sl.No.21. New Sl.No.23.
The prepared reckoned is introduced beneath as photos. Click on on them to zoom in. PDF obtain hyperlink is given beneath.
Obtain the Revised Capital Positive aspects Taxation Guidelines Prepared Reckoner for FY 2025-2026
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