Quiz for the week (06 Oct 2025) :
Dr. Srinath acquired Sovereign Gold Bonds for Rs.10 lakhs in the financial year 2020-21 @Rs.4700 per gram. The bonds fetch annually interest @2.5 %. The Government gave option to the bondholders to redeem their bonds in October, 2025 @ Rs.10,000 per gram. The assessee wants to redeem the bonds but wants to know the income-tax consequence of redemption of bonds.
Share your thoughts on the above on or before 13th October, 2025