Deduction under 54EC
This query is : Resolved
CA Amit Pandya
(Querist)
18 April 2009
Can I have deduction of Interest received of investments made under section 54EC i.e in NHAI bond or REC bond
Other thing is that at the time or redumption of Bond after 3yrs. what amount is taxable??
Thanking you for your valuable time.
Other thing is that at the time or redumption of Bond after 3yrs. what amount is taxable??
Thanking you for your valuable time.
18 April 2009
Interest of 54 EC bonds are liable to income tax.
18 April 2009
interest is taxable
Manmohan ACA, CS
(Expert)
18 April 2009
Interest received on 54EC bonds are taxable as income from other sources. However as per CBDT circular no TDS is deducted in them
18 April 2009
you have to take the proportiionate interest amount as taxable every year and at the last year only that year interest will be taxable and not the whole amount
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