income from other sources
This query is : Resolved
12 July 2010
what is the provision related to the NSC VIII issue matured with interest
=taxable for the A.Y.2010-11/or not?
=taxable for the A.Y.2010-11/or not?
12 July 2010
Interest received on NSC is taxable under the Head Income from other sources
12 July 2010
Agreed with Mr Sunil.
In addition to this, Deduction for the interest on NSC can be claimed as deduction u/s 80C.
In addition to this, Deduction for the interest on NSC can be claimed as deduction u/s 80C.
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12 July 2010
I also want information about the matured NSC principal amount??????
Is it taxable under the head Income from other sources.
Is it taxable under the head Income from other sources.
12 July 2010
NSC principal amount is not taxable under any head in income tax act.
12 July 2010
The money received as maturity value, represents only money invested by you and therefore is not taxable in the year of receipt.
Also for more clarification on NSC check the following links >
http://in.answers.yahoo.com/question/index;_ylt=A0WTZWd48zpMhggAkRmCHwx.;_ylv=3?qid=20090123223630AAUJfLM
http://www.rediff.com/getahead/2006/dec/14nsc.htm
Also for more clarification on NSC check the following links >
http://in.answers.yahoo.com/question/index;_ylt=A0WTZWd48zpMhggAkRmCHwx.;_ylv=3?qid=20090123223630AAUJfLM
http://www.rediff.com/getahead/2006/dec/14nsc.htm
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