Query relating to 80c
This query is : Resolved
Moulisha Hazra
(Querist)
18 February 2014
amount invested in NSC/ULIP/UTI is eligible for deduction u/s 80C in the year of investment.is it taxable in the year of maturity?and if it is taxable then under which head of income?
18 February 2014
You provide the interest on accrual basis and the tax impact if any shall be negligible in the year of maturity
Nikhil Kaushik
(Expert)
18 February 2014
in addition to Agarwal Sahab advise, please note that ULIP and UTI investments dont attract capital gains under EEE model (subject to conditions obviously)
Naresh Dharia F.C.A.
(Expert)
19 February 2014
The interest recd on maturity is taxable under the head Income from Other Sources.
Ok
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