Can any body opt for showing the interest on nsc in the year
This query is : Resolved
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
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
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.
So if you show the income on accrual basis every year, it will have no impact on tax liability.
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