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Interest on goi bond


D.P.Saraf (partner)     18 February 2021

D.P.Saraf
partner 
 23 points

| My Other Post

The assessee follow mercantile system of accounting. He purchased 8% government of India (Taxable) saving bonds in 2011 and showing interest every year . Bonds matured in 2017 and TDS was deducted on whole interest. AO wants to add whole interest in the year of maturity on the basis of 26AS.

avater

Aditi Kaur (Practising CA)    18 February 2021

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Online Query

Online Query (CA Final Student)     18 February 2021

Online Query
CA Final Student 
 7 likes  109 points

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According to me
interest from bond should be treated as income for each year not on maturity
D.P.Saraf

D.P.Saraf (partner)     18 February 2021

D.P.Saraf
partner 
 23 points

View Profile | My Other Post

CAN U PLEASE PROVIDE ANY SUPPORTING EVIDENCE OR CASE LAW IN RELATING TO THE SAID  CASE.

Online Query

Online Query (CA Final Student)     18 February 2021

Online Query
CA Final Student 
 7 likes  109 points

View Profile | My Other Post
Sorry, it's my perception

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