Capital gain exemption
This query is : Resolved
ramidi santhosh
(Querist)
23 April 2014
friends,
i have an issue that as assessee is getting an long term capital gain on sale of open plot of Rs.56,00,000/- now to enjoy tax benefit he was ready to invest in NHAI/ REC Bonds now the question is whether these bonds give interest on investment monthly or yearly and whether the same (I.E., interest) is taxable? and after three years at the time of maturity or after 3 years when he want to withdraw whether the total amount again is taxable or how to show that income. please friends help me in this issue.
i have an issue that as assessee is getting an long term capital gain on sale of open plot of Rs.56,00,000/- now to enjoy tax benefit he was ready to invest in NHAI/ REC Bonds now the question is whether these bonds give interest on investment monthly or yearly and whether the same (I.E., interest) is taxable? and after three years at the time of maturity or after 3 years when he want to withdraw whether the total amount again is taxable or how to show that income. please friends help me in this issue.
ramidi santhosh
(Querist)
26 April 2014
Sir/madam/friends,
any one plz give me a answer for my question plz................
any one plz give me a answer for my question plz................
Prof. Bajaj
(Expert)
02 August 2014
1. Interest on NHAI / REC 54EC Bonds is taxable.
2. Interested is paid annually.
3. On maturity, the principle will become tax free and the interest for the last year will be taxable.
2. Interested is paid annually.
3. On maturity, the principle will become tax free and the interest for the last year will be taxable.
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