Nsc accrued interest treatment
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
16 January 2013
The best way is to claim accrued interest for past 3 years in the current year and then claim the same on annual basis from next year onwards. The accrued interest can be claimed as deduction under Section 80C.
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