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Can any body opt for showing the interest on nsc in the year

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(Querist)
12 May 2012 I Have one question as to whether I can show total interest earned on NSC in the year of maturity instead of showing a part every year.

If I go for that it might so happen that I could enjoy the benefit of IT Slab change & even I may not require to pay any tax in future.

Since I have an uniform income & I expect it to remain same in near future, do you suggest showing the interest income every year or in the year of maturity.

Ranjan
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
12 May 2012 NSC Interest income although taxable but is allowed as deduction u/s 80C.

So if you show the income on accrual basis every year, it will have no impact on tax liability.
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