Friends,
Pls help me out from this question whether, income tax applicable on redemption of debentures at par ? please explain in brief............
Regards,
C.A. Sandeep Wawhal (CA, PGDFM, BCom) (1831 Points)
17 December 2012Friends,
Pls help me out from this question whether, income tax applicable on redemption of debentures at par ? please explain in brief............
Regards,
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 17 December 2012
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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