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Taxability of tax saving bonds (Income Tax)

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Querist : Anonymous

( Querist )
24 June 2010

I have purchased tax saving bonds in 2007. It has matured now. Kindly let me know what will be the tax implication for the same?

Aditya Maheshwari

( Expert )
24 June 2010

Principal amount would be exempt and only interest will be taxed. Interest only taxable to the amount not taxed in earlier years.

Querist : Anonymous

( Querist )
30 June 2010

Hi, I heard REC bonds are taxable on both the interest earned and maturity value.
Kindly let me know the correct taxability of 'capital gains tax saving bonds'.
Will they be considered as long-term capital gains upon maturity and taxed as per indexation benefit?



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