Tax implication on maturity of FD, NSC, & LIC
This query is : Resolved
Anil Kumar Kedia
(Querist)
20 July 2008
Kindly let me know that what is the tax implication of payment received on maturity of LIC, NSC,FD, PPF and PF.
21 July 2008
Amount received on maturity of LIC, PPF and PF is not taxable. However, the amount of interest on FD and NSC is taxable on accrual basis every year and at the time of maturity the intt for last year only is taxable.
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