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 :
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
- How Can Law Students Present Papers at Conferences
- On which amount 200% penalty under section 270A is
- RECEIVED INTIMATION U/S 399 FOR TDS PAYMENT ON PRO
- How do CA firms track SEBI/AMFI circulars and dead
- Jurisdictional validity of Sec 148 notice after fa
- Taxable Income or Not
Related Topics :
CAclubindia
