RBI 7.75% Bonds- Interest related query
This query is : Resolved
14 May 2020
Hello,
My query is regarding 7.75% RBI Savings (Taxable) Bonds issued in January 2018. If I opt for the Cumulative option , how will the interest be credited to me? Will I receive the entire interest on maturity ? Or will it accrue every year and I will have to show it as income in my ITR every year?
In other words, will TDS be deducted in one go at the end of maturity when all interest is paid to me? Or will TDS be deducted every year on the interest amount that accrues to me every year?
Thanks in Advance
My query is regarding 7.75% RBI Savings (Taxable) Bonds issued in January 2018. If I opt for the Cumulative option , how will the interest be credited to me? Will I receive the entire interest on maturity ? Or will it accrue every year and I will have to show it as income in my ITR every year?
In other words, will TDS be deducted in one go at the end of maturity when all interest is paid to me? Or will TDS be deducted every year on the interest amount that accrues to me every year?
Thanks in Advance
16 May 2020
Hi Nupur, I had invested in RBI bonds and back then they had paid the entire amount on maturity along with interest. The TDS on interest was also deducted on payment only and not on yearly basis.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Consolidated financials
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Section 50-fixed asset-->building ceases to exist
- Withdrawal in cash from partners capital account by partner
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
