Taxation of icici money multiplier bond

945 views 9 replies

I bought ICICI money multiplier bond in the secondary market in Oct 2020 and held till maturity (May 2023); Is the Gain to be considered as Capital Gains or Interest Income.

Replies (9)

Whether any TDS deducted over redemption? If yes, under which section?

yes.

under sec 193.

Declare it under interest income.

The form 16A issued by the bank on maturity indicates the full interest for the entire lifetime of the bond (Nov. 1998 to May 2023. 

But this entire interest is not my gain, since I bought the bond in the secondary market in Oct 2020, i.e. after 22 years.

That doesn't matter, you can take the differential amount as the interest  for ITR.

Sir,

With regards to your above reply, thank you very much. It is helpful.

I was also holder of ICICI MMB OP III bond (Nov 1999 - june 2023). 26AS shows amount u/s 193. 

So just to reconfirm,

1) should i take full income as interest income? and pay full tax as per slab rate 

or  2) can I show under 112(1) as LTCG? and pay 10% tax only?

Thank you in advance for your guidance.

Thank you

Parekh

 

 

 

1. Full interest at slab rate, if had not offered interest income annually.

Sir, thank you for your reply.

You are welcome.        

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 08 July 2026
Articles

AJAY SINGH AND CO LLP

Thane

CA Final

View Details