Hi All,
Greetings!
I hold some Zero Coupon Secured Redeemable Non-Convertible Debentures from Muthoot.
Could anyone let me know how do I show it in my Income Tax, whether I show it as Interest accrued or?
Thanks in advance
Details of the security are below
Raj
Interest from Zero coupon bond shall be taxed under the head Interest on securities on accrual basis.
Thanks Gaurav,
When I asked my registrar the Accrued Interest, I get an reply that there is no accrual for this kind of issue.
Is he right?
Thanks
Rajesh
sorry dear
i clicked on link u gave and analysized. As there is no Interest rate given so dont book interest right now rather book capital gain on the redemption.
CAclubindia
