Dear CAclubIndia Member/experts,
I have just sold the ancestral property of my father. For saving purpose if i invest 50,00,000/- in NHAI/REC bond u/s 54EC will the Maturity Amount be Taxable?
Though interest earned on these will be taxed under income from other source. Will the Principal amount received after 3 years be taxed again? or can i invest the same in any manner i want to?
Thanks in advance.
Principal amount is not taxable on redemption. Interest paid yearly, and tax accordingly.
The principal amount you can invest in any manner you like.
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