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Bond income is taxable?

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(Querist)
10 December 2008 whether reciept of amount u/s 54C i.e investment in bond , after 3 year is taxable and what about interest income received during the year on bonds
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srinivasan pooranalingam

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srinivasan pooranalingam (Expert)
11 December 2008
1. The interest amount alone is taxable in accordance with the method of accounting followed by the assessee. The Principal amount is not taxable.
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