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Taxability of Interest Income

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(Querist)
17 December 2009 If an asesseee holds Maharashtra Government Krishna Valley Bonds and receives interest on the same what is the taxability of Interest received on such bonds. pls guide me
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
17 December 2009 Yes; these are taxable because these are not exempt from tax.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
17 December 2009 yes its taxable.
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