09 May 2015
A friend of mine used sec. 54 to avoid tax on capital gain. Since that he invested, he shown the interest he received as taxable. Now that bond is on maturity period. Does the principal amount he going to receive is taxable?.
09 May 2015
Please check the section. . Whether it is Section 54 or 54EC. . Investment in Bond is made U/s 54EC. The amount received on maturity is the original investment. It is not taxable. . Interest if any is being received, interest is taxable. .
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