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The new rate (5 per cent) is applicable from August 1, 2020, for investments made in FY 2020-21, that is, until March 2021. For investments received until July 31, 2020, the earlier rate of 5.75 per cent at investment will hold till maturity. The rate could change again in FY2022, that is, from April 2021, depending on interest rates in the economy then.
Despite the rate cut, the capital gains bonds are a good bet for those looking to save tax on long-term gains from the sale of their house or property.
Listen to the podcast and find out why.
Article by: Anand Kalyanaraman
Voice over: Siddharth
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