Section 54ec capital gain bond
This query is : Resolved
28 November 2012
Pl. correct me if i m wrong:-
u/s 54EC NHAI/REC Bonds r issued. These r Tax free bond that means no TDS is deducted on its Interest but this Interest is taxable in "Income from other sources".
pl. give reference of section that shows interest is taxable in other sources head.
u/s 54EC NHAI/REC Bonds r issued. These r Tax free bond that means no TDS is deducted on its Interest but this Interest is taxable in "Income from other sources".
pl. give reference of section that shows interest is taxable in other sources head.
CA PARAS BAFNA
(Expert)
28 November 2012
The interest income is taxable U/s 56(1)(id).
.
Interest on Bonds is not an exempt income as the same has not been specifically exempted U/s 10.
.
.
Interest on Bonds is not an exempt income as the same has not been specifically exempted U/s 10.
.
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