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Nsc accrued interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 January 2013 I have purchase NSC in January, 2013. From when interest will accrue?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
04 January 2013 Interest start accruing from the very next day when you deposit the amount however,
in the income tax return of AY 2014-15, you will have to show Interest Accrued for the first year.
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Querist : Anonymous

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Querist : Anonymous (Querist)
04 January 2013 So do i have to show interest for a period of Date of purchase to Mar,13 & Apr,13 to Mar,14 in return for A.Y.2014-15.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
04 January 2013 You have to show interest of 1 year, leave extra period, it will get adjusted at the end.
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