CHANDAN DEVLEKAR (Proprietor) (25 Points)
15 June 2012Is Interest Received from National Highway Authority of India against investment in bonds is taxable ?
CA Mukesh Jain S
(Chartered Accountant in Practice)
(692 Points)
Replied 15 June 2012
Yes it is fully taxable. There is no provision for exemption for this.
praveen
(Chartered Accountant)
(6971 Points)
Replied 15 June 2012
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Hi,
You need to check under which scheme NHAI has issued the bonds. There is an issue that I remember where there was no tax on interest.
Similar bonds are issued by Indian Railways and HUDCO.
You can see the scheme name in which the bonds were issued. Most of the times it is tax free it will stated on the bond itself.
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