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 Topic
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
- Correct way to show income from annuity in ITR
- ITR 3 issues
- What after death of proprietor
Related Topics
CAclubindia
