Accrued Interest on NSC VIII Issue
This query is : Resolved
19 June 2008
Dear Sir,
An assessee purchase NSC VIII issue of Rs 25000 per year. What the accured interest on such investement shall be included in his income from other source?
An assessee purchase NSC VIII issue of Rs 25000 per year. What the accured interest on such investement shall be included in his income from other source?
19 June 2008
Interest amount for the NSC Certificate of Rs 1000
Year Amount of Interest
1 Rs 81.60
2 Rs 88.30
3 Rs 95.50
4 Rs 103.30
5 Rs 111.70
6 Rs 120.80
Year Amount of Interest
1 Rs 81.60
2 Rs 88.30
3 Rs 95.50
4 Rs 103.30
5 Rs 111.70
6 Rs 120.80
20 June 2008
Dear Sir
What the interest income to be include under the head "income from other source" or not ?
Further what the assessee can avail deduction u/s 80C?
What the interest income to be include under the head "income from other source" or not ?
Further what the assessee can avail deduction u/s 80C?
20 June 2008
Int on NSC purchsed on/after 1.3.03 for Rs 100 is to calculated as follows :-
1-Rs 8.16
2- Rs 8.83
3- Rs 9.55
4- Rs 10.33
5-Rs 11.17
6-Rs 12.08
1-Rs 8.16
2- Rs 8.83
3- Rs 9.55
4- Rs 10.33
5-Rs 11.17
6-Rs 12.08
26 June 2008
yes, interest first to be included in income from other source and then claim deduction for same amt u/s 80C. so, no tax on interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
