1) Maturity amount of NSC not taxable(Principle portion) 2) Interest on NSC is taxable under the head Income from other sources as per the rate of interest table provided by the IT on accrual basis and the same shall be eligible for deduction u/s 80C. But in the year of maturity the section 80C benefit not available for the portion of interest for that year. 3) Maturity amount of RD not taxable(Principle portion) 4) Interest on RD is taxable under the head income from other sources either on accrual basis or receipt basis choice of the assessess 5) Maturity amount of FD not taxable(principle portion) 6) Interest on FD is taxable under the head income from other sources either on accrual basis or receipt basis choice of the assessess. 7) already explained in point no 1.
17 April 2014
1.NSC MATRUITY NOT TAXABLE 2. INTEREST OF NSC OF YEAR YEAR WILL ADD IN INCOME THEN DEDUCTABLE U/S 80C AS REINVEST BUT LAST YEAR OF NSC WILL NO DECUTABLE U/S 80C 3. IN R D MATURITY INTT ON RD A/C WILL TAXABLE 4.FDR INTT WILL BE TAXABLE 5.FDR AMOUNT NOT TAXABLE
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