NISM 10B Investment Adviser Level 2 Notes

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  • Bond Laddering: Interest taxable; gains depend on holding period.
  • Non-Convertible Debentures: Interest and gains taxable like bonds.
  • Pass-Through Certificates: Income taxable in investor’s hands.
  • Commercial Paper: Short-term, gains taxed as capital gains.
  • Certificate of Deposit: Interest taxable as other sources income.

NISM 10B NISM Investment Adviser Level 2

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