The tax rate on the HDFC GOI RBI Floating Rate Savings Bond 2020 is subject to the individual’s income tax slab rate. The interest earned on the bond is taxable as per the investor’s applicable tax bracket.
HDFC GOI RBI Floating Rate Savings Bonds are investment instruments offered by HDFC Bank in collaboration with the Government of India and the Reserve Bank of India. These bonds provide individuals and HUFs with the opportunity to invest in a government-backed bond with a floating interest rate.
No, it is not true that RBI Floating Rate Savings Bonds are tax-free. The interest earned on HDFC GOI RBI Floating Rate Savings bond 2020 is subject to taxation as per the investor’s income tax slab rate. TDS is deducted at the time of interest payment of RBI Floating Rate Savings Bond 2020.
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