Interest on bond
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2013
Sir,
I have acquired the bond of PFC Ltd for availing the deduction u/s 80CCF in 2011, whether we should take the interest on accrued basis in income tax return.we have opted for cumulative interest i.e. on maturity.
I have acquired the bond of PFC Ltd for availing the deduction u/s 80CCF in 2011, whether we should take the interest on accrued basis in income tax return.we have opted for cumulative interest i.e. on maturity.
29 June 2013
You need to take accrued interest only. also 80CCF discontinued from 1.4.12
29 June 2013
Interest will be taxed on accrual basis every year till maturity
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