Taxliability
This query is : Resolved
08 August 2011
Is there any taxliability on redemption of REC bonds eligible of 54EC?
In other words what is the tax liability on the date of redemption of bonds purchased for tax benefit under section 54EC?
In other words what is the tax liability on the date of redemption of bonds purchased for tax benefit under section 54EC?
08 August 2011
On redemption there is no tax liability
except interest accrued, which can be taken on yearly basis as income.
On pre-maturity withdrawal the Face value of Bond will be taxed as LTCG.
except interest accrued, which can be taken on yearly basis as income.
On pre-maturity withdrawal the Face value of Bond will be taxed as LTCG.
08 August 2011
sir,
what is basis could be to say that there is no tax liability.
I could not find any provision which support our view that there is no tax liability on redemption of bonds.
Please clarify
what is basis could be to say that there is no tax liability.
I could not find any provision which support our view that there is no tax liability on redemption of bonds.
Please clarify
10 August 2011
...because Bonds are redeemed at par that is at Cost=Sale price, hence no surplus, no gain.
10 August 2011
In case you have purchased Bonds at a discount rate and are not listed, capital gain may be calculated on taking the redemption value as sales consideration.
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
- About TDS & Income Tax
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Presumptive income under 2025 ACT
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
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
