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of <h1>New tax rule: full consideration on transfer/redemption/maturity of certain market-linked debentures, specified mutual funds, unlisted bonds treated as short-term gains</h1> Where a capital asset is a Market Linked Debenture, a unit of a Specified Mutual Fund acquired on or after 1 April 2023, or an unlisted bond/debenture transferred, redeemed or maturing on or after 23 July 2024, the full consideration received on transfer/redemption/maturity less cost of acquisition and expenditure wholly and exclusively incurred shall be treated as short-term capital gains. No deduction is allowed for securities transaction tax. 'Market Linked Debenture' and 'Specified Mutual Fund' are defined by reference to SEBI classification and to funds investing 65% or more in debt and money-market instruments.
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