Menu
Interest on REC 54EC bonds taxable or not?
i have invested 45 lakhs in 54EC bonds in dec 2018. I will be earning interest this year. is the earned interest taxable or not?
Replies (5)
Its taxable u/h. IFOS....
Interest is taxable on 54EC bonds under Income from other sources.
However there will be NO TDS on the interest amount.
However there will be NO TDS on the interest amount.
What about maturity of above fund after 5 years??
It's your own you are receiving back after 5 years lock-in.
No question of tax on maturity amount.
No question of tax on maturity amount.
1. There is no express provision which specifies that interest received from REC bonds are exempt. To the contrary there also no TDS provision which requires deduction of tax when interest is paid.
2. This makes it taxable under Income from other sources and there cannot be any deductions attached to the above income.
3. Maturity amount will not be liable to tax.
Please correct me if the above solution has an alternative view.
Recent Topics :
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
Related Topics :
CAclubindia
