Dear Collegues
A Ltd - has issued Debentures aggregating Rs 5.00 crs (500 denentures at a face value of Rs 1 lac each). During the current financial year, the company wants to redeem the aforesaid debenure at discount, ie., (500 debenture will be redeemed at Rs 80,000 each).
Kindly clarify in Tally - under what head - Discount on redemption of debentures need to be classified. Will it attract tax
Thanks
CAclubindia
