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IDBI Flexibonds!!!!!

RITESH KHANDELWAL (Corporate Taxation) (168 Points)

14 March 2008  

Dear Member,

I would like to get the solution of my query:

  • If I have recd Interst on IDIB Flexibond without any tax deductions i.e., Gross Amt then Am I liable to pay Income tax on that ? If yes, what is the rate of tax for an Individual, Is it unedr normal slad or some CG ?

 Plz suggest.

 2 Replies

Amit (Service) (111 Points)
Replied 14 March 2008

Yes you will have to add the interest income in your total income and than calculate tax on total income as per Income tax provisions

O.D.SHARMA (DGM-F & A) (1734 Points)
Replied 15 March 2008

Dear ,Include this interest income to your gross & accordingly pay tax.

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