GOI Bond Interest TDS at Maturity: Strategies to Avoid Double Taxation

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TDS on GOI Bond Interest at Maturity? Avoid Double Taxation with Form 71

TDS on full GOI bond interest in one year: How investors can avoid tax mismatch

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News18•06-03-2026, 07:00

TDS on GOI Bond Interest at Maturity? Avoid Double Taxation with Form 71

•Investors in 2018 GOI Savings Bonds face potential double taxation due to TDS deduction at maturity.
•Many reported interest annually on an accrual basis, but RBI deducted TDS on the entire 7-year interest at maturity.
•This creates a tax mismatch, as the full interest appears in the maturity year, despite prior reporting.
•Use CBDT's Form 71 to distribute TDS credit across previous assessment years, aligning it with already declared income.
•File Form 71 electronically within two years of TDS deduction and maintain year-wise interest records and ITR acknowledgments.

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