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Anil Rego |388 Answers |Ask -Follow

Financial Planner - Answered on Sep 12, 2022

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Question by A on Sep 12, 2022Hindi

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4] Since the interest on this REC bond is payable only once every-year (in June), I feel that during the subsequent years, starting from FY 2022-23, I would require to pay the regular tax (as per applicable slab) on Interest income of these bonds [received in June every year] till the maturity of the bonds (60 months lock-in).

Ans: Interest on REC bonds are taxable.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Anil Rego |388 Answers |Ask -Follow

Financial Planner - Answered on Sep 12, 2022

Question by A - Sep 12, 2022Hindi

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5] Further, I understand that the amount deposited in these bonds will be tax-free in my hands after 5 years of lock-in period of bond? Is it correct? Kindly confirm.

Ans: Yes, if you use it to save tax on an eligible asset.

Anil Rego |388 Answers |Ask -Follow

Financial Planner - Answered on Nov 29, 2022

Question by ASEEM - Nov 29, 2022Hindi

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I having two types of RBI taxable bonds. For one type which is non-cumulative I get interest regularly after 6 months. Tax is deducted at source and I show it as income in my ITR. The other is cumulative type which shall get matured in the FY 2023-24. Since no tax has been deducted on interest and nothing was crediting to my bank account during the last 6 years, so no interest income for these bonds was shown by me in my return. Is it correct from IT point of view? Next year when the principal and interest shall be credited to my account, the TDS be deducted at source, interest income shall be shown by me in my ITR. Hope my point of view is correct from ITR point of view.

Ans: Yes, this is right from ITR point of view as you are accounting for it on a receipt basis.

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Tax Expert - Answered on Nov 22, 2023

Question by Vusuvandla - Sep 28, 2023Hindi

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Daer sir kindly clarify the tax liability of NSC purchased in 2018 and maturing now in 2023 for Rs.1000000.00 Rs.ten lakhs.maturing value isRs.1469328.00.secondly RBI bonds purchased in 2018 for Rs.1000000.00 matured now in 2023for Rs 1601000.00 less tds@10 percent Rs.60100 deducted and paid Rs.1540900 . Whether the cumulative interest is to be treated as capital gains and pay the tax. Or the interest is to be treated as interest on FD. Can you please clarify?. Thank you

Ans: Interest income is taxable as Income from other sources and not as capital gain. It can be offered to tax on receipt basis or on accrual basis. Once either of the method is adopted, it should not be changed in subsequent year.

Ramalingam Kalirajan |8330 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Feb 25, 2025

Question by Raj - Feb 24, 2025Hindi

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Thanks... Thats only need a clearty in new Tax systen that bond will be taken for 13 lac or 30 lac

Ans: You need to invest only Rs 13 lakh (the indexed capital gain) in 54EC bonds to claim exemption.

The new tax system does not change this rule. Exemption under Section 54EC applies only to the LTCG after indexation.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

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Sir i am a 12th pcb student from chse (orissa state board) from this 2024-25 batch & i have scored 89% in my 12th boards . I want to build my career in engineering by doing b.tech cse from (NIT Rourkela or IIT Bhubaneswar ) . Can i apper jee mains or jee advance next year( 2026 ) by appearing additional nios maths in this year 2025. It's an urgent please ans me as quick as possible.

Ans: Yes, you can appear for JEE Main and JEE Advanced in 2026 if you meet the eligibility criteria by completing Mathematics as an additional subject through NIOS.

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Question by Ayush - May 10, 2025

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Hii myself Ayush because of my health issues I was unable to gave my theory exam of class 12 boards 2024 , but have given the practical exam so will 2024 will be considered as an appearance in class 12 or not , and i did my class 12 through nios board in 2025 and i am confident of scoring more than 75 percent , si which year will be considered as an appearance of mines 2024 ,2025 as I have decided to prepare for jee adv , and it has two attempt so if cbse taken my apprence in 2024 , I will not be eligible according to the rules , but I have asked form jossa helpline no they said if cbse doesn't consider 2024 as an appearance you are eligible, please try to answer this i will be greatfull . Try to gave me authentic answer

Ans: Hello Ayush
In your case, although you attempted the practical exam in 2024, you did not complete the theory exams, and consequently, no result was declared for you in 2024. As per the JEE Advanced guidelines, an "appearance" in Class XII is considered only if the board declares a result for that year, irrespective of whether or not the examination was conducted.

Since you completed your Class 12 through NIOS in 2025, with the board declaring your result in 2025, your first valid appearance is considered to be in 2025.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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