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Gold Bond Interest Income

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(Querist)
29 June 2011 I want to know that Gold Bond comes under which section and interest from gold bond is taxable or not.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
29 June 2011 If the bond is 'National Defence Gold Bonds, 1980' interest is tax free u/ 10 (15) of the Income tax Act,1961. In other cases of 'gold bonds', interest is taxable and subject to TDS u/ 193 if the interest exceeds 10,000/- per annum.
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