exempted income
This query is : Open
KAMALIKA DEY DHARA
(Querist)
24 October 2009
are interest from US 64 Bond and RBI Bond tax free
KARAN SHARMA
(Expert)
24 October 2009
As per sec 10(35) any income from mutual fund specified u/s 10(23D) will be exempt from tax. So income from UTI US64 is exempt
You have not stated type of bond bought from RBI. If it was 8% Relief Bond(invested before 28/2/2003), then, it was not taxable as per section 10(15)(iiic). Therefore, if you hold those bonds , interest thereon is tax free and also there is no TDS .
You have not stated type of bond bought from RBI. If it was 8% Relief Bond(invested before 28/2/2003), then, it was not taxable as per section 10(15)(iiic). Therefore, if you hold those bonds , interest thereon is tax free and also there is no TDS .
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