hi,
i have doubt in NSC
one of the employee invested in NSC in the month of feb 7th ,2003
the maturity period of NSC is 7th of feb 2009,
thorugh NSC Calculator he got the interest of rs. 42 395.oo
whether he needs to show the interest as income and claim the interest as Ded u. 80C
please assist me in this regards
| Originally posted by :harinath | ||
| " | hi, i have doubt in NSC one of the employee invested in NSC in the month of feb 7th ,2003 the maturity period of NSC is 7th of feb 2009, thorugh NSC Calculator he got the interest of rs. 42 395.oo whether he needs to show the interest as income and claim the interest as Ded u. 80C please assist me in this regards |
" |
Nsc interest will be taxable as income from other souces if you have not shown yearly basis then full interest will be taxable in f.y. 08-09 & further deduction u/s.80C is avaibale for fresh investment only. not the interest part.
CAclubindia
