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Interest payable on ltcg bonds

mahesh (NA) (65 Points)

24 March 2018

LTCG Bonds purchased in FY17-18 (ie 31/8/17).The interest accrued in FY17-18 has to be declared in AY18-19 or AY19-20.

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 24 March 2018

Interest is payable by end of the year, and gets credited to bank account in first week of April..........

So, it is to be accounted in FY 2017-18 i.e AY 2018-19.

mahesh (NA) (65 Points)
Replied 23 May 2018

Interest is paid till June of every year and credited in bank early July.So Do I calculate based on interest earned from 31/8/17 to 30/6/18 or 31/8/17 to 31/3/18?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 23 May 2018

Depends upon interest certificate........ but you can credit it as on date of receipt i.e. from 1.7.17 to 30.6.2018. (Also if you wish to declare it on accrual basis, ie. upto march 2018, you can do so.)