banner_ad

tax on redemption amount / interest

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 June 2010 dear sir

my friend has bought ICICI Bank Bond on Jan., 2005, Tax saving bond (Option II).
During March 2010 he received the Redemption amount Rs.20,000 with interest Rs.6120 ( after deducting TDS Rs.680), hence the total amount was Rs.26120.

Is Income tax calculated on Rs.26120 or on interest Rs.6800, by taking this as Income from other sources.

thanks
Nagarajan
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
12 June 2010 tax payable only on Gross interest portion not on principal.
Profile Image

nagarajan

Profile Image

nagarajan (Querist)
14 June 2010 thank u sir
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
14 June 2010 You are welcome
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details