Long-term capital assets: Meaning and taxation

I want to buy a listed cumulative NCD (non-convertible debentures) of a three year term of a finance company after 18 months of its issue from the market and want to hold it for the balance period. Will I have to pay tax difference of maturity amount and purchase cost at the time of maturity as long term capital gain? - Anonymous The Income Tax Act, 1961, defines a long term capital asset as a capital asset which is not a short term capital asset. So

This article was originally published on November 24, 2022.