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Income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2013 Hi,
Please inform me which section is applicable for the amount receivable at the maturity of NSC.
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@VaibhavJ

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@VaibhavJ (Expert)
03 August 2013 Hi,

It is taxable under “Income from Other Sources”.

Only the final year’s interest, when the NSC matures is taxable

Because it does not receive a tax deduction as it does not get reinvested, but is paid back to the investor along with the interest of the earlier years and the capital amount.

Rg//Vaibhav
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