Can any one tell how we can treat Zero Coupan Bond in the Head Income From Business or Proffession? Its urgent.............................
Sandeep Pandey (CA FINAL) (1306 Points)
22 October 2009Can any one tell how we can treat Zero Coupan Bond in the Head Income From Business or Proffession? Its urgent.............................
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 22 October 2009
Hi Sandeep,
I guess, u r talking about Income on Transfer of Zero Coupon Bonds. This income is taxable under the head 'Capital Gains' and not under 'PGBP'.
If a person have business of transfer of such bonds, only in this case it is taxable under 'PGBP' as taxable receipt i.e. credit to P&L A/c.
Sandeep Pandey
(CA FINAL)
(1306 Points)
Replied 22 October 2009
According to sec 36(iiia) discount on DCB. What is that?
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
