20% Tax Saving..!
As per the Indian IT (income-tax) rules, if you have made LTCG (Long-Term Capital Gains) by selling a property you held for 3 years, you have to pay a 20% tax. One way to avoid paying this income tax is by investing in bonds specified under section 54 EC of the IT Act.
This bond currently being offered by NHAI is one such bond and if you invest your LTCG here, you do not need to pay that 20% tax.
Apart from resident individuals, HUFs (Hindu Undivided Families), NRIs (non-resident Indians) & approved institutions can also invest in NAHI bonds.
This bond currently being offered by NHAI is one such bond and if you invest your LTCG here, you do not need to pay that 20% tax.
Apart from resident individuals, HUFs (Hindu Undivided Families), NRIs (non-resident Indians) & approved institutions can also invest in NAHI bonds.
Highlights of NHAI Bonds..!
* Minimum Investment : Rs.10,000
* Maximum Investment : Rs. 50 lakh.
* Face value : Rs. 10,000 per bond
* Interest rates: Coupon rate) of 6%, payable annually
* NHAI bonds will pay the interest on 31 March every year.
* The NHAI bond can be fully redeemed at maturity, after 3 years.
* This bond can be held in the name of a single holder as well as jointly.
* Keep in mind that even if you make separate applications, individually or jointly, the aggregate investment should not exceed Rs. 50 lakh, or both of you may lose the benefit under section 54 EC.
* You will be able to avail a nomination facility on these bonds.
* Maximum Investment : Rs. 50 lakh.
* Face value : Rs. 10,000 per bond
* Interest rates: Coupon rate) of 6%, payable annually
* NHAI bonds will pay the interest on 31 March every year.
* The NHAI bond can be fully redeemed at maturity, after 3 years.
* This bond can be held in the name of a single holder as well as jointly.
* Keep in mind that even if you make separate applications, individually or jointly, the aggregate investment should not exceed Rs. 50 lakh, or both of you may lose the benefit under section 54 EC.
* You will be able to avail a nomination facility on these bonds.
Some Negatives..!
* You can not transfer these bonds in another person’s name.
* It’s a non-negotiable financial instrument. So do not expect to get money by keeping the bond as a security against any loan since this is not permitted.
Risk..! * The bond comes with minimum risk and does not need daily monitoring. Moreover, you do not need to pay a commission to get the bond. The bond also comes with AAA / stable rating by CRISIL & AAA(Ind) / (Affirmed) by FITCH.
Taxability..! * There is no TDS (Tax Deductible at Source) on the interest paid by these bonds. But the interest earned on these bonds is taxable. You will need to pay tax on the interest income as advance tax.
Close Date: 31 March 2013
* It’s a non-negotiable financial instrument. So do not expect to get money by keeping the bond as a security against any loan since this is not permitted.
Risk..! * The bond comes with minimum risk and does not need daily monitoring. Moreover, you do not need to pay a commission to get the bond. The bond also comes with AAA / stable rating by CRISIL & AAA(Ind) / (Affirmed) by FITCH.
Taxability..! * There is no TDS (Tax Deductible at Source) on the interest paid by these bonds. But the interest earned on these bonds is taxable. You will need to pay tax on the interest income as advance tax.
Close Date: 31 March 2013
For Investing in NHAI & REC 54EC Capital Gain Bonds Contact Amit Surpuriya – 9850873688
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