Dear all,
Please tell me, what was Tax applicability arises on maturity of capital bond from NHAI or REC regarding investment made for the purpose of claiming exemption u/s 54EC.
Also from where I do get this bonds.
Its urgent, please make your reply for NRI status assessee.
Thank You.
Since i want to invest in NHAI/REC bonds can i have the applications form.How do i download the forms. Can u please send via my email v_raajesh2002 @ yahoo.co.in.
Thanks,
With Rgds,
V.Rajesh
The Bonds are normally dealt with by Stock Holding Corporation of India. Some years ICICI bank was also dealing with them.
Assuming you are investing for saving cap gains, the bonds have a lock in of 3/4/5 years depending on issuer. The interest on the bonds is taxable year on year, but no TDS is deducted on the interest. At the time of maturity after lock in , there is no tax incidence.
https://www.onemint.com/2011/01/15/rec-infrastructure-bonds-section-80ccf-infra-bonds/
agree with above answer...
CAclubindia
