Individual investing in Corporate Bonds (known as Debt Securities), which are also traded through Demat account, is earning interests on regular intervals. Whether this interest is taxable at the normal slab rate of the Individual ?
Secondly, whether the interests earned on Corporate Bonds are to be shown separately under Other Income or can be clubbed with interests from Bank, etc.
Pl clarify whether Individual receiving Interest on Corporate Bonds can use ITR-1 as the total income is less than Rs. 50 lacs ?