Dear Sir,
In ITR 1 and 2 where do we have to show the maturity proceeds received from nsc?
I understand maturity amount received from nsc is exempt from tax. Please correct if I m wrong.
Regards,
Bhavika
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maturity proceeds of nsc
Replies (3)
Only the interest earned in last financial year (PY) is taxable u/h IFOS........ While principal and accrued interest of preceeding years is not taxable.
ok but do we have to show maturity AMT received under exempt income anywhere in ITR 1 and 2?
No........ its capital receipt.....
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