25 August 2020
My client has sold property and has incurred Capital Gains in the AY 2020-2021. He wants to invest the amount in the specified bonds as laid down in the Income Tax Act in order to claim tax exemption. If he invests the same, what will be the tax incidence on the client on the maturity of these specified bonds ? Will only interest be taxable or the entire amount of Principal & Interest will be taxable on maturity ? Best regards.
CAclubindia
