interest accrued on NSC
This query is : Resolved
23 January 2008
Is it necessary to show interest accrued on NSC?...i know that it is available as deduction under section 80c but the problem is that sec 80 c is already more then 1 lac..if i take interest accrued on NSC under income from other sources ,client is getting tax...so is he liable to pay tax?plz reply me as soon as possible.
S.Srinivasaraghavan
(Expert)
23 January 2008
Yes you have to show interest accrued on NSC. If you have already reached the upper limit of deduction u/s 80C you can't help.
01 February 2008
I think You should show.
Last year you had shown & if the next year the amt of interest fall within the limit of 80C and you are willing to show that amt then what happened to this year's interest?
Last year you had shown & if the next year the amt of interest fall within the limit of 80C and you are willing to show that amt then what happened to this year's interest?
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