Tax on nsc matured (cash basis)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2014
Dear sir/ Madam,
I am filing my income tax return for the first time for A.Y.14-15...... i have recieved nsc matured value of Rs. 1,68,424/-
Only interest is taxable or both principal and interest is taxable?
I am filing my income tax return for the first time for A.Y.14-15...... i have recieved nsc matured value of Rs. 1,68,424/-
Only interest is taxable or both principal and interest is taxable?
17 September 2014
principal is never taxed friend...only interest is.
17 September 2014
only int is taxable as income from other sources and principle is capital amount not taxable.
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