I invested some amount in RBI floating bonds this August. As I understand, it’ll give me half yearly interests on 1st January and 1st July every year.
My question is what is my tax liability for this year? The interest I get on January 1, or that plus some accrued interest based on the rate announced on January?
If that is also part of my tax liability, is there a way to get an estimate of the amount for advance tax purposes? Not now, but at least before March?