Interest on NSC is tax free or not
This query is : Resolved
30 November 2008
Dear Sir,
With reference to above subject I have invested in NSC. Interst on NSC is taxable or not ?
With best regards,
Vilas Choudhari
With reference to above subject I have invested in NSC. Interst on NSC is taxable or not ?
With best regards,
Vilas Choudhari
30 November 2008
Taxable. Add to Gross Total Income under the head "Income from other sources" and
then
One can avail Sec 80C exemption for the interest accrued (all interest considered, till the year of maturity, as these interests are considered as amount reinvestment and gets the benefit of investment). For the last year there is no such benefit available and it is fully taxable.
then
One can avail Sec 80C exemption for the interest accrued (all interest considered, till the year of maturity, as these interests are considered as amount reinvestment and gets the benefit of investment). For the last year there is no such benefit available and it is fully taxable.
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