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Nsc interest taxable or not

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2012 Is interest on NSC taxable or not ?
if yes then how much interest is taxable?
suppose i invest rs 100000/- in NSC for 15 ( amt reinvested after every 5 years) years and i get around 325000/- after 15 years then how the taxable interest is calculated? Please clarify.

Thanks in advance

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 NSC interest is taxable on accrual basis, but it is also eligible for deduction u/s 80C.

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2012 Thanks for replying.

Could you please tell me how much interest is taxable in the above question in the 15th year?

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