NSC Interest Taxation
This query is : Resolved
Quick Summary
26 June 2024
Last year (FY2022-2023) I paid tax on NSC interest on maturity/ receipt. This year FY2023-2024, AIS shows NSC interest on accrual basis.
Being in new tax regime, is it OK to pay tax on NSC interest on maturity/ en-cashment/ receipt ? or is it necessary to pay tax on NSC interest every year on accrual basis ?
Being in new tax regime, is it OK to pay tax on NSC interest on maturity/ en-cashment/ receipt ? or is it necessary to pay tax on NSC interest every year on accrual basis ?
26 June 2024
For NSC tax is to be paid on interest accrued every year.
29 August 2024
Good Luck.
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