Interest on infrastructure bonds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 January 2012
I have invested Rs.20000/- in infrastructure bonds.Is interest on the same is tax free income?
If i want to invest another Rs.40000/- in same Financial year can i invest? Under 80CCF i can claim only Rs.20000/- as investment but is interest on all Rs.60000/- is tax free?
If i want to invest another Rs.40000/- in same Financial year can i invest? Under 80CCF i can claim only Rs.20000/- as investment but is interest on all Rs.60000/- is tax free?
CA Navin Jain
(Expert)
25 January 2012
Deduction u/s 80CCF shall be allowed only Rs. 20000.
And Interest is taxable under the head of Income from other source irrespective of amount of investment under sec 80CCF.
And Interest is taxable under the head of Income from other source irrespective of amount of investment under sec 80CCF.
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