Manoj Pandey (65 Points)
07 August 2022I have a stupid query and please forgive me for that.
Muthoot Fin has issued NCDs. It has cumulative as well as regular payment options. If I opt for cumulative option for more than 36 months, the income will attract LTCG tax and if I go for regular payment, the income will be added to my normal tax. Is my understanding correct?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 07 August 2022
Correct. Interest income declared during a FY is taxed at slab rate, while any gain declared at the completion of its term is taxed under LTCG......
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