I have Rs. 1.50 Lacs investment in KYC, It will mature in next month.
Whether interest component will be chargable to tax or exempt (please mention section if possible).
Plz suggest
Pawan Kr. Tomar (CA) (169 Points)
19 January 2010I have Rs. 1.50 Lacs investment in KYC, It will mature in next month.
Whether interest component will be chargable to tax or exempt (please mention section if possible).
Plz suggest
CA Pramod Jain
(manager finance)
(1577 Points)
Replied 19 January 2010
its taxable and u shud hv accounted interest income on accrual income basis, howevr still it is taxable in any case
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