Interest on Bond Adjustment

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akl (Querist)
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01 July 2023 I purchased a bond from market with quartely payout of interest & interest accrued for the quarter upto purchase date was also paid with bond price plus broker commission.The interest for the full quarter was paid to me on the due date subsequently. Please clarify whether I shoud show only net interest under Income from other surces(adjust the interest paid to the seller of bond from the interest received by me) while filing my Itax return? Can the commission paid is also adjustable? I file ITR 2 as an individual with income from salary, capital gain & other sources.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 July 2023 Declare full interest, without any deductions. Brokerage paid will add up in the cost of acquisition of bond.

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