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Income Tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Deduction of premium written off on Govt. Securities - discount ...

Income Tax

April 3, 2015

Deduction of premium written off on Govt. Securities - discount on bonds and premiums on redemptions of debentures are allowable as expense proportionately spread over the period of security. - AT

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  2. Amortization of premium paid on investments under "held to maturity category" - assessee is entitled to the amortization of security premium, as claimed - HC

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  4. Amortization of premium paid on Government securities – the assessee is entitled to deduction on account of amortization of premium on Govt. securities over its life. - AT

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