NSC
This query is : Resolved
Guest
Guest
(Querist)
05 February 2011
NSC is pledged by the assessee and now whether interest accrued on it should be shown as income of the assessee as income from other sources and whether it should be shown as Investment in his balance sheet.
Guest
Guest
(Expert)
05 February 2011
Answar is in affirmative
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05 February 2011
Agree with expert.Intt on NSC will be taxable under Income from other sources.ALso assessee can claim deduction u/s 80C for accrued interest.For accounting purpose it wll be shown with NSC amount.
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