Deduction under 54EC

This query is : Resolved

CA Amit Pandya (Querist)
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18 April 2009 Can I have deduction of Interest received of investments made under section 54EC i.e in NHAI bond or REC bond

Other thing is that at the time or redumption of Bond after 3yrs. what amount is taxable??

Thanking you for your valuable time.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 April 2009 Interest of 54 EC bonds are liable to income tax.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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18 April 2009 interest is taxable

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Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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18 April 2009 Interest received on 54EC bonds are taxable as income from other sources. However as per CBDT circular no TDS is deducted in them

Sourabh

Sourabh (Expert)
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18 April 2009 you have to take the proportiionate interest amount as taxable every year and at the last year only that year interest will be taxable and not the whole amount