Taxability of nsc
This query is : Resolved
CA Jasbir Singh
(Querist)
14 June 2014
If a person having NSC of 2500000 and interest on NSC is say 200000 every year and other deduction under 80 c is more than 100000, then all the interest shall be taxable. Now at the time of maturity what value shall be taxable ? If whole interest is taxable it lead to double taxation.
15 June 2014
The interest for last year is taxable as it is not reinvested. and as you mentioned the interest for previous years has been taxed earlier. so it will be not taxed again.
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
- Oct 2025 Invoices
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
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
