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Inflation Indexed National Savings Securities - Tax Treatment

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Inflation Indexed Bond - Tax Treatment

  • Tax treatment on interest and principal repayment would be as per the extant taxation provision.
  • The quoting of Permanent Account Number (PAN) mandatory for investment amounting to `50,000 (Rupee fifty thousand) and more. However, following exemptions with regard to PAN requirement will apply:
    • As per Income Tax Rule 114B, any person who does not have a PAN and who enters into any specified transaction shall make a declaration in Form No.60.
    • As per Rule 114C, the requirement of PAN is not applicable to the person who has agriculture income and does not have any other income provided he makes a declaration in Form 61, non-residents as referred to in Section 2(30) of the Income Tax Act, and Central Government, State Government and Consulate Office.

Further, section 206AA of Income Tax Act 1961 on requirement to furnish PAN would be applicable.

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