Hi all,
Can you please kindly help me in filing my taxes for the interest earned from “INE683A08051 - The South Indian Bank Limited” bond purchased from GoldenPi where I had received Rs. 27,500 interest on 24-Jan-2023 for 2 units, where the face value per unit is 1L, coupon rate is 13.75%
https://goldenpi.com/bonds/INE683A08051/the-south-indian-bank-limited-1375-bond-yield?src=view_details
Query 1:
My purchase date was Feb2022 and the bond call date is on 24-Jan-2025 and I have no plans to sell it in the secondary market i.e. going to hold it till 2025, so I hope I need to show this Rs. 27,500 interest as under “Income from Interest” tab similar to FDs etc for my FY 2022-2023 tax filing or should I subtract any accrued interest as I had purchased the 2L face value bonds for 2,02,582
Query 2:
Each unit face value is 1L and I have 2 units which I have purchased from GoldenPi for Rs. 2,02,582 and once I receive the face value of 2L on maturity, is the difference of Rs. 2,02,582 – Rs. 2,00,000 i.e. 2582 to be treated as Long Term Capital loss? or should be deducted in Query 1 itself while declaring the Interest Income
Kindly assist, thanks!!
CAclubindia
