Nsc interest
This query is : Resolved
12 September 2013
sir
may I know if the interest received on redemption of nsc is exempt or not?
12 September 2013
NSC interest on redemption is taxable and not eligible for deduction u/s.80C since it will not get reinvested
12 September 2013
NSCs on redemption are not taxable.
But the interest earned for the first four/five years is eligible for deduction under sec.80(c) on yearly accrual basis. But the interest earned during the last year is taxable.
But the interest earned for the first four/five years is eligible for deduction under sec.80(c) on yearly accrual basis. But the interest earned during the last year is taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- NON- SUBMISSION OF LLP FORM 3
- Free lancer income
- TDS related Query_Liquidated Damages
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- What is provisional receipt number for generation of form 16A
- Form 27Q Correction statement taking too long to update on IT Portal
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
