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will long term capital loss be calculated on tax free bonds bought at a premium and redeemed at face value?
Hi. A client wants tax free bonds. Some bonds available in the secondary market are traded at a premium. Assuming I buy a 8% coupon bond that matures in 2023 at Facevalue 1000 Rs for Rs.1130/- today - will the Rs.80/- receivable in 2022 and 2023 be tax free? Can I claim short term capital loss on purchase and sale of the bond?