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Nsc interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 How to disclose the NSC interest accrued and receive on maturity in ITR.

Suppose for the A/Y 2013-2014 i have NSC of Rs. 40000 on which Interest accrued is 3900 along with it one NSC matured on which i receive 2800 as interest.

as far as my information interest receive on NSC at time of maturity is fully taxable and interest accrued during the holding period deemed as reinvested and assessee can claim deduction under 80C.

Plz reply soon and oblige.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
21 June 2013 Yes. NSC interest is taxable under other sources. in case accrued interest reinvested you can claim under 80C.

On maturity it is taxable, cannot claim 80C
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