NHAI BOND - Capital Gain Tax
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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….
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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)
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..
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.
@Maverickz
Sirg @flawlessking why you selected bonds?Their interest rate is even less than inflation
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?
Also can you tell me if the first one was credited on bank or not? Looks like inconsistency. If first one done via cheque.
@bikidas2060