Abstract: A tool holder and a parting and grooving tool for an indexable turret have a plurality of tool stations, The adjacent tool stations have a predetermined angular spacing. The tool holder includes a mounting portion and a projected portion, which are connected. The mounting portion has a flat surface extending in an interface plane and the projected portion has a recess for holding the parting and grooving tool. The parting and grooving tool includes a cutting portion and a clamping portion. The cutting portion includes a cutting edge and the clamping portion includes a rear end surface. The parting and grooving tool is mountable in the recess such that a distance from the interface plane to the rear end surface of the parting and grooving tool is greater than a distance from the interface plane to the cutting portion of the parting and grooving tool.