Thanks Sehej. For most listed debt securities, the holding period is 12 months to qualify as long-term. This is similar to listed equity stocks. The LTCG tax rate for such listed debt securities is also the same as listed equity stocks - 10% without indexation. The difference though is that while there is an exemption of Rs 1 lakh on LTCG of listed equity shares, this benefit is not available for listed debt securities. Also, for such listed debt securities, the STCG tax rate is the slab rate, while it is 15% for listed equity shares. When it comes to unlisted debt securities, the holding period is 36 months, different from the 24 months for unlisted equity shares. The tax rates are the same though for unlisted debt securities and unlisted equity shares - 20% with indexation for LTCG and slab rates for STCG.

Anand Kalyanaraman

Hi Krishna, we have subscribers outside India too who want a perspective of the amounts in foreign currency. Hence, the currency conversion.

Anand Kalyanaraman

Thanks, Govardhan :)

Anand Kalyanaraman

Thank you, Balawant. We didn't get into specific transactions since we wanted to focus on the big picture in the story. The links given in the story have some details.

Anand Kalyanaraman

Thank you, Anurag

Anand Kalyanaraman

Thanks, Rajeev!

Anand Kalyanaraman

Thank you, Abhinav. Yes, it's a treasure hunt, indeed :)

Anand Kalyanaraman

Thank you, Srikanth :)

Anand Kalyanaraman

Thanks Uday. I agree there is scope for growth in the company, especially with the Tata Group in charge. But it is a long-haul. Meanwhile, the stock's run-up and its valuation seem out of sync with the financial realities of the company. Even on a price-to-sales ratio, the valuation seems very costly. The company's sales will need to grow 15-16 times from current levels for valuations to be comparable with global peers. That will take quite some time, even with the BSNL deal. Also, how much of it will flow to profits needs to be seen. Guess, valuations is a matter of different perspectives. And different perspectives make the market :)

Anand Kalyanaraman

Thank you.

Anand Kalyanaraman

The irony. Unclaimed money with banks is transferred to an entity named DEAF :) DEAF stands for Depositor Education and Awareness Fund

Anand Kalyanaraman

Thanks Sanjeev. The link below explains how the issue is handled in a few countries. https://www.moneylife.in/article/use-global-practices-to-reunite-unclaimed-financial-assets-with-their-rightful-owners/68347.html How interest earned on unclaimed dividends is handled is unclear. From my understanding, it is not returned to the owner of the shares. It is likely retained in the Consolidated Fund of India, where the IEPFA maintains the dividend balances.

Anand Kalyanaraman