Nsc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2012
My query is how much amount is taxable on the maturity of NSC after 15 years ( amount reinvested after every 5 years). The amount of Rs-100000 reinvested after every 5 years becomes Rs-353610 after 15 years. So from this example how much amount is taxable after 15 years and one more thing if i dont take the interest part in the return on yearly basis then can i take the whole interest after 5 years and file the return accordingly.
Thanks in advance
Thanks in advance
10 December 2012
No, You Need to Take Interest Part of NSC Every Year.
on Maturity Principle is Not Taxable.
and Regarding Interest, Though Its Taxable, Its Deduction You Can Get in 80C Again as ReInvestment.
on Maturity Principle is Not Taxable.
and Regarding Interest, Though Its Taxable, Its Deduction You Can Get in 80C Again as ReInvestment.
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