NSC-VIII
This query is : Resolved
07 March 2009
Suppose I have invested Rs 1 lac in NSC-VIII in the assessment year, can I deduct this full amount? Or only the interest earned is deductable? What exactly is the meaning of "deemed to be reinvested?
07 March 2009
Full amount of Rs.1 Lac will be deducted in assessement year in which amount is invested.Interest earned at the end of the year will be deductible from next year.Since NSC interest is not paid every year interest earned on it is "deemed to be reinvested"
Message likes :
1 times
30 November 2011
Thanks, Mr. Indapurkar - sorry for the extreme delay in response Ram.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Bank Accounts in Balance Sheet for ITR 3
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
