Dear All,
Suppose i've purchased a NSC of 50000 on 21 april 2013, So whether interest on NSC would be taxable in FY 2013-14 or the same would be taxable from FY 2014-15. And when is the interest accrued to assessee.
Regards
Saurabh
Dear All,
Suppose i've purchased a NSC of 50000 on 21 april 2013, So whether interest on NSC would be taxable in FY 2013-14 or the same would be taxable from FY 2014-15. And when is the interest accrued to assessee.
Regards
Saurabh
Interest on NSC is taxable as interest is not paid to the account holder but reinvested in NSC. As the interest is reinvested in NSC , we can claim it as a deduction U/s 80C.
Thanks, but want to ask whether the interest on NSC is due on 31st march 2014(So as to be taxable in 2013-14) or it would get due on 21st april 2014(So as to be taxable in 2014-15).
You need to include the interest upto 31st march 2014 in FY 13-14.
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