Income from Infrastructure bond.

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If you've received income from an infrastructure bond maturity and had TDS deducted, you need to declare this interest under the 'Income from Other Sources' (IFOS) section of your ITR-2 form. The interest earned is taxed at your applicable slab rate. The TDS deducted can be claimed as credit against your total tax liability.

Chaitali

Chaitali (Querist)
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30 September 2021 In 2020, I have earned some money on maturity of L& T infrastructure Bond-2010 and TDS deducted under 194A. How Can I show it in ITR-2. Please guide me. Where Can I add this income in ITR 2? Income from other sources?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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30 September 2021 Yes, if otherwise ITR 2 is applicable in your case.

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Chaitali

Chaitali (Querist)
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30 September 2021 But How can I add this income in ITR-2?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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30 September 2021 The interest derived from Long-Term Infrastructure Bonds is taxable under the head ‘Income from Other Sources’ in the hands of the investor.

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Chaitali

Chaitali (Querist)
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30 September 2021 what will be income tax rate of this income? Interest from Infrastructure bond is Rs. 21220/- and TDS deducted under the section 194A is 1592/-. as per total income I am presently in 20% slab?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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30 September 2021 Rate of TDS deduction is 7.5%, (covid 19 relaxation) over Rs. 21,220.
You need to declare the income under IFOS, which is taxed at slab rate.

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