I invested in tbills of 182 n 364 day maturity last financial year.
any one know which section of itr filing should this interest income be shown to?
thx
I invested in tbills of 182 n 364 day maturity last financial year.
any one know which section of itr filing should this interest income be shown to?
thx
under Other Income head
What interest income?
You would have received short-term capital-gains on T-Bills, right?
that is what the confusion is.
is interest from t-bill short term capital gain or is it income from other source?
if stcg, then why is it not coming in ais or tis form from it portal?
It is STCG.
However, AFAIK, the rate of taxation is the same as “Income from Other Sources” (slab-rate).
Not all sources of income are being accurately reflected in the AIS.
In case of T-bills this is most likely due to
Can you clarify under which section/table of Schedule-CG in one’s ITR,
should one report the income from T-Bills ?
it look like cleartax is better & speedier than quicko
Are treasury bills taxable in India?
In India, returns on treasury bills are taxable under STCG (Short Term Capital Gains) as per the applicable slab rates of the investor.
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The treasury bills are listed on an exchange. Hence, an individual can either sell in the secondary market before maturity or hold it till maturity. Irrespective of the investment duration, the returns are taxed at the income tax slabs applicable to an individual.
However, tax experts have divided opinions about the head of income under which returns would be taxed.
Read more at:
Great, I went through the Times article, but since there are different viewpoints.
So did you show in other income and paid tax in current AY 2024-25 return?
I request you to confirm when your return is processed and everything is settled for more clarity, because at STCG tax of 15% this Tbill doesn’t seem to be a much fruitful investment option.
It’s at slab, not STCG
Yes, I also believe it should be t slab rate but TOI article many experts have diff. set of opinions.
Now only some tax expert like @Quicko can guide on the Tbill taxation.
See below TOI article extract :
As per article, difference on opinion is under which head income should be reported, not on what would be actual tax rate. Regardless of how you report it, taxation should be at slab. At least that’s what the article is saying.
to give update: i filed it return with tbill income as interest income…got refund in 15days