Nsc accrued interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 January 2013
Hi,
I have been investing in NSC for the past 3 years but today I came to know that accrued interest can be claimed every year. Can I start claiming for the Accrued interest on NSC from this AY onwards.
What is the best method for me to account the same now since I do not want to pay tax at maturity after 6 years.
Rgds
I have been investing in NSC for the past 3 years but today I came to know that accrued interest can be claimed every year. Can I start claiming for the Accrued interest on NSC from this AY onwards.
What is the best method for me to account the same now since I do not want to pay tax at maturity after 6 years.
Rgds
CA Neha Chauhan
(Expert)
21 January 2013
Dear,
There is two way effect of NSC Accrued Interest...First of all you have to charge it under the head Income from Other Sources and after it you can claim the same amount u/s 80C as deduction..
Regards,
Neha Chauhan
There is two way effect of NSC Accrued Interest...First of all you have to charge it under the head Income from Other Sources and after it you can claim the same amount u/s 80C as deduction..
Regards,
Neha Chauhan
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