Nsc matured taxable or not
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2011
NSC MAtured Taxable or Not
10 December 2011
Matured value of NSC has two components
1.Return of Capital
2.Interest accrued on NSC
Return of capital is not taxable
whereas accrued interest is taxable
For example
purchased NSC worth Rs. 10,000
on maturity Rs 16000 after 6 years
Rs 6000 alone will be taxable
1.Return of Capital
2.Interest accrued on NSC
Return of capital is not taxable
whereas accrued interest is taxable
For example
purchased NSC worth Rs. 10,000
on maturity Rs 16000 after 6 years
Rs 6000 alone will be taxable
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