I bought Bharat Bond April 2023 in May 2020. Unfortunately, I was forced to sell in April 2023 because the term got over. NOTE: I did not want to sell and incur Short Term Capital Gain. The tax is quite high. (May 2020 to April 2023 is just under 3 years) So, I immediately bought Bharat Bond April 2025 (exact consideration amount), hoping to make it a Long Term Investment (which was the initial intention)
Now my AIS shows Short Term Gains due to Sale of Bharat Bond 2023. I want to show Long Term Capital Gain when I sell Bharat Bond 2025 in FY 2024-25.
23 July 2024
Repurchase of these bond doesn't mean continuation of earlier investment. They are two different events. One is sell which is independent of new purchase.
CAclubindia
