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Interest on Bond

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(Querist)
17 November 2010 I invest Rs.11lac in SBI Unit Gain (To reduce my Long Term Capital Gain tax Liability on Sale of House Proerty/Lan) on that investment i am eligable to receive the interest. That interest will be taxble or exmepted
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 November 2010 If it is a deposit under "capital gains accounts scheme,1988", interest is taxable under the Income tax act,1961.
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