Interest on NSC is tax free or not

This query is : Resolved

Pawan Patil (Querist)
Follow

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

CA Debasish Banerjee

CA Debasish Banerjee (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Akshay Jain

chandradhass sathish

Gurunathan kannan

Rakesh Bansal

yadagiri

Subscribe Now

Interest on NSC is tax free or not

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Article Assistant

Manager- Finance and Compliance

Accountant

GST CONSULTANT

CA Final