Can any one tell how we can treat Zero Coupan Bond in the Head Income From Business or Proffession? Its urgent.............................
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Zero Coupan Band
Replies (2)
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.
According to sec 36(iiia) discount on DCB. What is that?
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