I just want to know that if any person have NSC Certificate which going to mature in current year but he didn't show the Interest on the same NSC in previous year Income tax Return.so my query is that is he eligible for deduction to show the maturity amount of NSC in current year return or not?
17 January 2019
Maturity proceeds of NSC can't be deducted from income . Entire interest is taxable and to be offered in current year income tax return.
CAclubindia
