Capital gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2013
what will be the tax liability if after 3 years the bonds needs to be redeemed??
30 October 2013
Capital gain would be proportionate according to legal heirs...
Such amount can be invest in NHAI/RECL Bonds @ 6 percent interest with a lock in period of 3 years U/S 54EC max of 50 lacs p.a..
Features of It..
1.Investment into these bonds save long term capital gains.
2. It is locked in for 3 years.
3. Demat account is not compulsory to invest in these bonds.
4. Currently REC and NHAI issue such bonds.
5. Rate of interest from these bonds are 6% pa and paid out every year.
6. TDS on the interest payable will not be deducted.
7. Remember the yearly interest earned is taxable under the head of income from other source.
8. The maximum cap for the investment is Rs. 50 lacs.
9. The Bonds are non-transferable, non-negotiable and cannot be offered as a security for any loan or advance.
Such amount can be invest in NHAI/RECL Bonds @ 6 percent interest with a lock in period of 3 years U/S 54EC max of 50 lacs p.a..
Features of It..
1.Investment into these bonds save long term capital gains.
2. It is locked in for 3 years.
3. Demat account is not compulsory to invest in these bonds.
4. Currently REC and NHAI issue such bonds.
5. Rate of interest from these bonds are 6% pa and paid out every year.
6. TDS on the interest payable will not be deducted.
7. Remember the yearly interest earned is taxable under the head of income from other source.
8. The maximum cap for the investment is Rs. 50 lacs.
9. The Bonds are non-transferable, non-negotiable and cannot be offered as a security for any loan or advance.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2013
WHAT IF AFTER 3 YEARS THE PERSON WANTS TO REDEEM THE BONDS, WILL IT BE TAXABLE???
30 October 2013
Maturity amount is exempt since it has been invested for the purpose of saving tax .
The idea of committing to such a low rate of interest is to make the proceeds tax free on investment and maturity.
The idea of committing to such a low rate of interest is to make the proceeds tax free on investment and maturity.
Message likes :
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31 October 2013
Agreed with ans of aryan.
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