Tds
This query is : Resolved
31 December 2011
Whether there is any difference between national saving scheme 2003 and relief bond?
whether the interest on relief bond exceeding Rs 10000.00 during the financial year is taxable @ 10% under section 193 of income tax act?
whether the interest on relief bond exceeding Rs 10000.00 during the financial year is taxable @ 10% under section 193 of income tax act?
01 January 2012
National Saving Scheme certificates are regular investment by Post. Accrued interest on NSC is eligible as reinvestment u/s 80c.Special relief Bonds are issued for special purpose. They may be ambit of another 20000 which exceeds 1 Lac.
Both interest is taxable, no tax free.
Both are applicable for TDS purpose. NSC is issued by Postal Department.
Both interest is taxable, no tax free.
Both are applicable for TDS purpose. NSC is issued by Postal Department.
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