Investment in Bonds u/s 54EC
This query is : Resolved
15 April 2009
Dear Friends,
We are in process of Invesing Rs. 50 Lacs in NHAI/REC Bonds u/s 54EC to save Income Tax on Capital Gain. We will get 6.25% interest pa on the same.
Will this interset Taxable in our hand? if yes, at which rate?
REC/NHAI has been given special exemption from deduction of TDS on the same.
We are in process of Invesing Rs. 50 Lacs in NHAI/REC Bonds u/s 54EC to save Income Tax on Capital Gain. We will get 6.25% interest pa on the same.
Will this interset Taxable in our hand? if yes, at which rate?
REC/NHAI has been given special exemption from deduction of TDS on the same.
15 April 2009
Yes the interest will be taxable in your hands & the rate will be as applicable to your income tax slab.
15 April 2009
yes interest will be taxable but on it TDS will not be applicable.
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