Nsc interest 80c query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2013
As we all know that NSC Accrued Interest deduction is available u/s 80C, except for last year.
I want to know that if a person re-invests the maturity amount into a fresh NSC, then can we claim deduction for last year’s accrued interest as well, as it is getting re-invested into a new NSC?
I want to know that if a person re-invests the maturity amount into a fresh NSC, then can we claim deduction for last year’s accrued interest as well, as it is getting re-invested into a new NSC?
05 October 2013
No as the sum has already been encashed and you are re-investing the entire maturity value which includes last year's interest hence it is not allowable this will be double claim
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