NHAI BOND - Capital Gain Tax

109°
248
1611
8

Hi, my dad had invested 5 Lacs for 3 years in NHAI Bond in the year 2018 to get exemption from tax on Long term capital Gain (LTCG), The interest was somthing 5%, payable annually i.e 25000/year…The bond reached maturity last month but the interest was credited just once in this 3 years, Only in 2019 and never since then…Is it payable just once? I spoke to the bank official and he had no clue, I really don’t know whom to approach now for this query, the NHAI call centre number is not reachable….

21 Comments  |  
7 Dimers
  • Sort By
0
1601
9

1. How are you holding the Bond? Paper Or Demat?
2. Is the bank linked with bond active (if paper intial bank account, if demat bank account holding bond)
3. Did you check the interest payment date of the bond online? You wont be the only person holding this bond.
4. Can you add the bond name as mentioned in trading / ISIN number to check for more details
5. Did you receive the first 25000 via cheque or via bank transfer? If via cheque, other cheque might have been misplaced.
6. Email the registrar of the bond with the bond folio number (I think you might got some unique id in mail or if paper it is mentioned in it) (Not sure f such id exists also or not but there should be one)

248
1611
8
InvestPotato wrote:

1. How are you holding the Bond? Paper Or Demat?
2. Is the bank linked with bond active (if paper intial bank account, if demat bank account holding bond)
3. Did you check the interest payment date of the bond online? You wont be the only person holding this bond.
4. Can you add the bond name as mentioned in trading / ISIN number to check for more details
5. Did you receive the first 25000 via cheque or via bank transfer? If via cheque, other cheque might have been misplaced.
6. Email the registrar of the bond with the bond folio number (I think you might got some unique id in mail or if paper it is mentioned in it) (Not sure f such id exists also or not but there should be one)

Thanks for your concern bro. KG+
1. Paper
2. Yes the bank linked is active
3. Yes I checked, Its payable annually on 1st April
4. Have to check that as I am away.
5. Sure will do that

56
1745
7

Its annual intrest.
Check your bank statement if bank details are given at the time of application.

If bank details are not given cheque might have gone back due to postal problem or address not found. Contact registrars of the compay. They will reissue cheque

P. S. – in 2020 due to lockdown most cheques not delivered by post.

Interests in many cases credited late to bank account in 2020 due to lockdown.

In 2021 intrest will be going to be credited along with maturity proceed I think.

248
1611
8
Bk100 wrote:

Its annual intrest.
Check your bank statement if bank details are given at the time of application.

If bank details are not given cheque might have gone back due to postal problem or address not found. Contact registrars of the compay. They will reissue cheque

P. S. – in 2020 due to lockdown most cheques not delivered by post.

Interests in many cases credited late to bank account in 2020 due to lockdown.

In 2021 intrest will be going to be credited along with maturity proceed I think.

Yes lockdown might be the reason for delay..

476
4280
52

For earlier years interests not received, contact the registrar.
Also for future, immediately ask him to open a Basic Service Demat Account (BSDA) and convert all paper bonds into demat. Then interest will always get credited automatically to bank account.

0
1601
9
Expand
flawlessking wrote:

Thanks for your concern bro. KG+
1. Paper
2. Yes the bank linked is active
3. Yes I checked, Its payable annually on 1st April
4. Have to check that as I am away.
5. Sure will do that

Do keep us posted for the steps taken.

As other dimer mentioned, cheques might have been misplaced.

248
1611
8

Update

Hi everyone, The amount got credited today with the final interest (for 3rd year), the 2nd interest missing was actually CREDITED ON TIME but the passbook entry was missing for that particular entry due to technical error (Skipped by entry machine), and my dad too misread it inbetween due to tons of other transactions….So no delay due to Covid, it was paid on time but a technical issue. Thanks all.

0
1601
9
flawlessking wrote:

Update

Hi everyone, The amount got credited today with the final interest (for 3rd year), the 2nd interest missing was actually CREDITED ON TIME but the passbook entry was missing for that particular entry due to technical error (Skipped by entry machine), and my dad too misread it inbetween due to tons of other transactions….So no delay due to Covid, it was paid on time but a technical issue. Thanks all.

Entry was missing?

So, balance was updated in the next one but some of the records was missings?

0
1601
9

@flawlessking,

Also can you tell me if the first one was credited on bank or not? Looks like inconsistency. If first one done via cheque.

248
1611
8
Expand
InvestPotato wrote:

Entry was missing?

So, balance was updated in the next one but some of the records was missings?

Yes the entry was missing (printing error), but the amount was added, as I mentioned the pdf statement helped. 

248
1611
8
InvestPotato wrote:

@flawlessking,

Also can you tell me if the first one was credited on bank or not? Looks like inconsistency. If first one done via cheque.

Yes the amount was credited in bank.

Invested  3-18-2018
1st – 2-4-2019 interest
2nd – 2-4-2020 interest
3rd – 2-4-2021 interest + 5 lacs (Maturity)

50
280
3
Expand
flawlessking wrote:

To save tax. Google Long term capital gain(LTCG) on property sales

I know that sirg but did u do cost analysis as return is less than inflation

248
1611
8
Expand
kukdookoo wrote:

I know that sirg but did u do cost analysis as return is less than inflation

Thats what I said, it wasn’t targeted for returns, it was solely done to save tax.

50
280
3
Expand
flawlessking wrote:

Thats what I said, it wasn’t targeted for returns, it was solely done to save tax.

save tax by loosing to inflation

248
1611
8
Expand
kukdookoo wrote:

with indexation
https://www.desidime.com/discussions/capital-ga...
my question is sirg after reducing profit by subtracting commission, other expenses etc. was it worth it to get it invested at 5.75% which is below inflation and is fully taxable? The interest is also not compound.

Yes it is totally worth it when u compare it with amount of tax u are paying i.e 20% of 5 lacs, 1 lac CG tax. And yes the interest earned is taxable and it’s not compounded. So now after three years, the amount is 5lacs + 75k(taxable) which rounds up to 5.60Lacs somthing which is totally worth it compared to the amount we would have left with i.e 4lacs if we didn’t opt for NHAI Bond. And Ofcourse everybody have different financial goals, in our case it would be sittingt idle…and hence

Missing