my friend has bought ICICI Bank Bond on Jan., 2005, Tax saving bond (Option II). During March 2010 he received the Redemption amount Rs.20,000 with interest Rs.6120 ( after deducting TDS Rs.680), hence the total amount was Rs.26120.
Is Income tax calculated on Rs.26120 or on interest Rs.6800, by taking this as Income from other sources.
CAclubindia
