Income tax - nsc related issue
This query is : Resolved
10 January 2016
I had purchased NSC of Rs. 21500 for the period 4.6.09 to 4.6.15(6year) but didn't mentioned interest thereon during any of the previous years in my income tax return.In these previous years exemption limit of 80c had already been exhausted by other investments.Now this year Maturity proceeds has been realised along with interest Rs.34421.Whether or not I Should show this amount of interest in the Income tax return of this year ?? Plz help me
10 January 2016
Accrued yearly interest on NSC should be declared head income from other sources in the year of Accrued for 6 year's same can be claimed as investment in chapter VI A, you can show entire interest this year
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