Hello every one, I have a query. That one of our client purchased NSC aprox. 2lac in 2004 and not to showed the interest of nsc in the ITR's of the past years and now NSC matured in year 2010, And i suggest him to show the interest in his return and pay Tax upon the interest earned inn last year i.e. 2010 and use the amount in business (and also said that his past year interest is exempted because interest is added backed to the amount of NSC)............u all please suggest that i made a good reply or not?
CAclubindia
