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of <h1>Finance Bill 2023 to Tax Market Linked Debentures as Short-Term Gains Under New Section 50AA from April 2024.</h1> The Finance Bill 2023 introduces a special provision for taxing capital gains from Market Linked Debentures (MLDs). These hybrid securities, which combine features of debt securities and derivatives, are currently taxed as long-term capital gains at 10% without indexation. The proposed amendment seeks to tax gains from MLDs as short-term capital gains at applicable rates. A new section, 50AA, will be added to define MLDs and calculate gains by considering the full value of consideration minus acquisition costs and related expenses. This change will be effective from April 1, 2024, for the assessment year 2024-25 onwards.
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