26 March 2009
hi, I want to know the tax liability status for sardar sarovar bonds. Maturity value of these bonds are taxable under capital gains or It is a interest income.
26 March 2009
The amount recd on maturity of Sardar sarovar bonds is taxable as interest income. The amount taxable would be the difference between the face value (Rs.3600) and maturity value (Rs.50000), i.e. Rs.46400 is taxable as interest income.
CAclubindia
