LONG TERM BONDS AND DEBENTURES
Sir, Act when detailing S.T Capital Asset. it specifically categorised listed bonds &Debentures , zero coupon bonds , Other Debt instruments....under different different categories.....Only benefit of L.T Capital Asset I knew was indexation benefit......... .......Later Section 48 provision 3 prohibits indexation for every bonds and Debentures except few...... What I am coming to was.... I don't understand the intention of legislature for categorizing those Bonds and Debentures
I was asking that why Debenture are classified in to long term & short term even though no Indexation benefit is available for them
Tax rates are different and also set-off of losses.