josh (IT) (256 Points)
30 July 2017
I had IDFC bank infra bond which got redeemed on 31/3/2017 and I got some interest on it. Is this interest taxable ? if yes, do I need to add this interest to the total income or pay tax on it separately ???
I have IIFCL tax free bonds and earned some interest in FY2016-17. Is this interest taxable ??? ( I believe it is not , please confirm ?)
Thanks
Josh
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178001 Points)
Replied 30 July 2017
1. Yes, the interest is taxable....... the annual interest earned is added to total income under IFOS.
2. Yes, you are correct.... it is tax exempt.
CAclubindia
