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10.11 - 14:51
Tax-Saving Infrastructure Bonds: Know how much tax to be paid on maturity and how to avoid TDS
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The tax-saving long-term infrastructure bonds issued in the Financial Year 2011-12 to provide deductions up to Rs 20,000 from the taxable income under section 80CCF of the Income Tax Act are maturing in FY 2021-22.
Although the bonds provided tax benefits u/s 80CCF at the time of investment, the interest on the bonds is, however, taxable in the hands of investors.
So, the tax-saving long-term infrastructure bonds were basically not the tax-free bonds.
There were two options provided to the investors – the annual interest payout option and the cumulative interest option.
While the investors who opted for annual interest payouts have already paid the tax on the amount of interest received, the investors who opted for the cumulative option would
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