TAX ON NON CONVERTIBLE DEBENTURES

[vinod p]

Hello,

I have invested in NCD in my wife's name with Muthoot Fincorp in the year 2013. It matures in the year 2018. As per the nature of the NCD, my investment is locked in for five years and I have not payed any tax on the interest earned till now( I am not aware of the interest earned till date). I intend to pay tax on its maturity in the year 2018. The source of my investment is my pension as i am an ex defence personnel. Now, with many amendments in Income Tax laws, can I still stick to my plan of paying tax on maturity or should i make any changes to my plan. Please advise, as i find it hard to interpret the latest amendments.

vinod

AI Summary

Investor Seeks Tax Advice on NCDs in Spouse's Name Amid Recent Income Tax Law Changes, Investment Matures in 2018. An individual invested in non-convertible debentures (NCDs) in their spouse's name with Muthoot Fincorp in 2013, maturing in 2018. The investment is locked for five years, and no tax has been paid on the interest earned so far. The individual plans to pay tax upon maturity in 2018 and seeks advice on whether this plan remains valid given recent amendments in income tax laws. The investment source is the individual's pension, and they express difficulty in understanding the latest tax law changes.