Exempt of nsc interest u/s 10(15)
This query is : Resolved
03 January 2014
I want to know :- is interest on NSC exempt or taxable ? And which case it is exempt or taxable . And one more thing deduction related to investment in NSC u/s 80C.
03 January 2014
Dear Deepak,
please read this article covering all the issues related to NSC. Yes the interest is taxable. How you may still not end up with higher taxability is explained in the article:
http://taxguru.in/income-tax/nsc-tax-benefit.html
please read this article covering all the issues related to NSC. Yes the interest is taxable. How you may still not end up with higher taxability is explained in the article:
http://taxguru.in/income-tax/nsc-tax-benefit.html
04 January 2014
Int on NSC is taxable under income from other sources.
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