112 sections
Himani Gupta (B.com) (31 Points)
24 July 2022
how to interpret that long term debt is taxable under section 112
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177840 Points)
Replied 24 July 2022
Debt funds are not categorized as specific funds liable for STT, and hence are taxable under normal assessment, but not u/s. 112A. of IT act.
While as per sec. 112 (1) of act, if held for 3 years or more than treated as long term capital assets.
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