Tax on Redeemption of Sardar Sarova Bond
This query is : Resolved
06 December 2008
I purchased a Deep Discount Bond from Sardar Sarova Narmada Nigam Ltd in 1991 in name of my minor child. This is due for redeemption now. If I redeem now I will be paying huge amount of tax. My child will become major in next 3 months. If I wait and do not redeem, I can get the status changed to Major after 3 months. In this case, all earnings will go to my child's name. Due to low income, there will NOT be any taxable amount in child's name. Will I be able to save on my tax liability by pushing the redeemption request by 3 months?
11 December 2008
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27 June 2023
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