are the debt funds included in the defination of listed security in following 10% bracket
Where the tax
payable in respect of any income arising from the transfer of a listed security (other than a
unit) or a zero coupon bond, being a long-term capital asset, exceeds 10% of the amount of
capital gains before indexation, then such excess shall be ignored while computing the tax
following is the extract from section 112, pl note.
Explanation.—For the purposes of this sub-section,—
(a) the expression "securities" shall have the meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (32 of 1956);
(aa) "listed securities" means the securities which are listed on any recognised stock exchange in India;
(ab) "unlisted securities" means securities other than listed securities.
following is the definition of securities as per section 2 of the Securities Contracts (Regulation) Act, 1956
(h) “securities” include—
(i) shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate;
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