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Interest on rec bonds

Tax queries 23304 views 8 replies
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Article Assistant
206 Points Posted on 20 June 2013

Hello,

Is interest on REC Bonds received is exempt u/s 10 (15) and if yes whether there is any restriction on amount of interest.

 

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On 20 June 2013 at 17:38 Report
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Article Assistant
381 Points Posted on 20 June 2013

INTEREST ON REC BONDS IS TAXABLE.

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On 20 June 2013 at 17:59
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85935 Points Posted on 20 June 2013
Originally posted by : Divya Shah

INTEREST ON REC BONDS IS TAXABLE.

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On 20 June 2013 at 20:16
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CEO
52 Points Posted on 21 June 2013

Interest on rec bonds is taxable. 

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On 21 June 2013 at 09:41
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Article Assistant
206 Points Posted on 21 June 2013
But in the section it's mentioned that interest on capital bonds is exempt and REC is covered in capital bonds
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On 21 June 2013 at 10:24
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CEO
52 Points Posted on 21 June 2013

Yes, you are right.

Taxation:
Tax Free: The Bonds are tax free in nature (exempt u/s 10(15)(iv)(h) of the Income Tax Act, 1961 and the interest on the Bonds will not 
form part of the total income. 
TDS: Since the interest Income on these bonds is exempt, no Tax Deduction at Source is required
 
"The entire interest received will be exempted, no restriction on the amount of interest."
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On 21 June 2013 at 13:13
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Article Assistant
206 Points Posted on 21 June 2013

Thanx ritu mam.

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On 21 June 2013 at 14:31
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article student
32 Points Posted on 14 August 2015
The interest earned on the REC bonds is fully taxable under the head “Income from Other Sources”. No tax at source would be deducted from the interest on these bonds.

 

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On 14 August 2015 at 15:44
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2 Points Posted on 11 October 2018
SO RITU MAM IT IS TAXABLE OR NOT. PLS CLEAR KRO
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On 11 October 2018 at 13:10

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