Friends,
Pls help me out from this question whether, income tax applicable on redemption of debentures at par ? please explain in brief............
Regards,
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Applicability of income tax
Replies (2)
yes it is taxable
YES APPLICABLE.BUT IN THE HANDS OF DEBENTURE HOLDER.BECAUSE REDEMPTION MEANS PURCHASE FOR A COMPANY BUT FOR A DEBENTURE HOLDER IT IS EXTINGUISHMENT i.e SALE OF HIS RIGHT
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