Hiiiiiii Everyone,
My query is relatiing to National Saving certificate.. Maturity amount is taxable or not???
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National saving certificate
Replies (6)
Interest accrued on NSC every year is taxable, and also eligible for deduction u/s 80C because the interest amount is reinvested.
But Mihir M talking about principle amount not interest
& as u said then last year interest will not be eligible for deduction u/s 80C because this will not be re invested
That is correct. Last year interest shall not be eligible for deduction u/s 80C. The principal amount shall of course be tax-free.
Thanks a lot Mihir Sir Suppose a person holding a kisan vikas patra from many years ago and he did not show till the last year return in the investment list Now this year is the maturity period plz give me reply
i know my question is not clear
Principal amount shall be tax-free. Interest shall be taxable.
Ohk sir Thanks a lot
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