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of <h1>New Section 50AA in Income-tax Act to Impact Capital Gains Calculation for Market Linked Debentures from April 2024.</h1> Clause 24 of the Finance Bill, 2023, proposes the insertion of section 50AA in the Income-tax Act, effective April 1, 2024. This section addresses the computation of capital gains for Market Linked Debentures (MLDs). It stipulates that the capital gains from the transfer, redemption, or maturity of MLDs will be calculated by deducting the acquisition cost and related expenses from the full value received. No deduction for securities transaction tax will be allowed. MLDs are defined as securities with a debt component, linked to market returns, and regulated by the Securities and Exchange Board of India.
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