Market linked debenture taxation treated as short-term capital gains on transfer, redemption or maturity under new provision.

Receipts on transfer, redemption or maturity of a Market Linked Debenture are to be treated as capital gains from the transfer of a short-term capital asset, computed as full consideration reduced only by cost of acquisition and expenditure wholly and exclusively incurred in connection with the transfer, redemption or maturity; no deduction is allowable for securities transaction tax paid.

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