I had invested 50000Inr in nsc and got 22000inr as interest in maturity. I want to know all interest is taxable as it is reinvested every year or only 5th year Interst is taxable for income tax filling this year ?
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NSC interst taxable ?
Replies (4)
Quick Summary
NSC interest is taxable on accrual basis i.e annually and not on maturity..
I had not declare interest in last 4 years in income tax how I can show in this year ? Can I show only this year interest as amount is invested automatically in nsc again.
I had not declare interest in last 4 years in income tax how I can show in this year ? Can I show only this year interest as amount is invested automatically in nsc again.
Check his AIS report and follow the income declared in it.
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