Perpetual Bonds Interest
This query is : Resolved
06 July 2020
Hello All Experts and CA's
I am Sanjay and want your advise.
I have invested in perpetual bonds in Sept 2019 for Rs.300000. The company give me interest for Rs.31500/- for the whole year in march 2020. My question is " what will be the amount of interest taxable in my hands"? Is it 31500/- or 15447/-...... Pl confirm .
What will the taxability if I sell the bonds after 2 years?
Pl advise.
Regards
I am Sanjay and want your advise.
I have invested in perpetual bonds in Sept 2019 for Rs.300000. The company give me interest for Rs.31500/- for the whole year in march 2020. My question is " what will be the amount of interest taxable in my hands"? Is it 31500/- or 15447/-...... Pl confirm .
What will the taxability if I sell the bonds after 2 years?
Pl advise.
Regards
CA R SEETHARAMAN
(Expert)
06 July 2020
It's 31,500 is taxable. 10% Capital gains tax applicable on sale after 2 years.
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