Interest income on National saving certificate
This query is : Resolved
K BHEEMA REDDY
(Querist)
04 July 2023
Dear Sir,
Interest earned on maturity of National saving certificate is taxable or not..? and also interest earned on PPF & FD is taxable or not.. Please guide me with relevant section.
Thanks & Regards,
Bheema Reddy.
Interest earned on maturity of National saving certificate is taxable or not..? and also interest earned on PPF & FD is taxable or not.. Please guide me with relevant section.
Thanks & Regards,
Bheema Reddy.
Dhirajlal Rambhia
(Expert)
04 July 2023
Interest earned or accrued on NSC and FD is taxable annually, while that from PPF is tax-free. Interest accrued on NSC is eligible for deduction u/s. 80C of the act.
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