NSC Accrued Interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2011
Sir,
I would like to know whether NSC Accrued Interest is comes under Income or under Deduction. As one my client (Salaried) who claims deduction of NSC Accrued Intt. from Gross Income (Not shown in Column 80C).
Is this correct ?
Plz treat the matter on urgent basis.
Thanking you Sir.
I would like to know whether NSC Accrued Interest is comes under Income or under Deduction. As one my client (Salaried) who claims deduction of NSC Accrued Intt. from Gross Income (Not shown in Column 80C).
Is this correct ?
Plz treat the matter on urgent basis.
Thanking you Sir.
CA Navin Jain
(Expert)
23 May 2011
accrued interest on NSC will be taxable under the head of income from other sources and same amount will be allow as deduction u/s 80C
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