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?
S.M.Indapurkar
(Expert)
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
- EPF ECR NEW FILE SEP 17TH 2026
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Oct 2025 Invoices
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Non filing of I T Returns
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
