Market-Linked Debenture (MLD)

Tax Glossary Definition

Market-Linked Debenture (MLD)

A debt instrument whose return is determined by the performance of a specified market index or asset class instead of a fixed rate of interest. Such instruments combine features of debt and market exposure, offering potential for enhanced returns along with associated market volatility risks. Example: An MLD linked to the NIFTY 50 index, when redeemed after 12 months, may generate profits taxable as capital gains depending on holding period and tax rules.

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