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I had purchased nsc on 15.06.2013. so how nsc and interest from the same will treated in itr??
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accrued intt on nsc will be shown under income from other sources.. and then amt invested in nsc as well as accrued intt together will be allowed as deduction under 80C.
Investment in NSC is eligible for deduction u/s 80C.
Interest received is taxable under income from other sources, and is reinvested in the same, and is again part of 80C.
In my opinion, you have option to disclose the interest either on receipt or accrued basis. If you opt to disclose the interest on accrued basis, you may claim the same as deduction u/s 80C. Accrued interest applicable for the first year is @ 8.68.
Investment in NSC is eligible for deduction u/s 80C. Interest received is taxable under income from other sources, and is reinvested in the same, and is again part of 80C.
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