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Interest on nss

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(Querist)
06 September 2012 Whether interest accrued on National Savings Scheme is taxable or not.
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CA VIKASH AGARWAL

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CA VIKASH AGARWAL (Expert)
06 September 2012 Both options are available in that case
interest can be taxable either accrues or received basis. dependas on the choice of taxpayer
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 September 2012 Fully taxable in the year of receipt vide section 80 CCA(2)(a) of the Income tax Act,1961.




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