23 January 2008
Is it necessary to show interest accrued on NSC?...i know that it is available as deduction under section 80c but the problem is that sec 80 c is already more then 1 lac..if i take interest accrued on NSC under income from other sources ,client is getting tax...so is he liable to pay tax?plz reply me as soon as possible.
01 February 2008
I think You should show. Last year you had shown & if the next year the amt of interest fall within the limit of 80C and you are willing to show that amt then what happened to this year's interest?
CAclubindia
