Sec 80 ccf exemption in relation to principal amt.
This query is : Resolved
17 December 2011
I invest in Infrastructure bond under sec 80 CCF. I want to know whether principal amt. received after minimum lockin period or on maturity will be taxable or not.I understood the provisions related to max. deduction of Rs. 20,000 on investment and interest amt. being taxable under Income from other sources but what about taxability of the principal amount received as said above.
17 December 2011
It is not taxable.
17 December 2011
Raviji can you please tell me where did you find this.
17 December 2011
Tushar i think it will be taxable.
because sec 10 of IT act 1961 not contained any provisions regarding exemption of income on maturity of bonds.
because sec 10 of IT act 1961 not contained any provisions regarding exemption of income on maturity of bonds.
19 December 2011
Originally when you have received that Principal amount, it has been taxed already. Again the same principal amount is not taxable, your principal amount will be protected.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
