NSC investment

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Pivate
1492 Points Posted on 03 July 2022
Dear Sir

Invested 50000 in NSC I'm Dec 21 maturity period Dec 26 but yet not updated in AIS form. Can we show all interest in ITR During maturity time.

please suggest
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On 03 July 2022 at 09:44 Report
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Quick Summary
This discussion addresses queries regarding National Savings Certificates (NSC) investments. Specifically, it clarifies that interest earned on NSC should be declared annually in your Income Tax Return (ITR), rather than waiting until maturity. This ensures accurate tax reporting each financial year based on the notified interest rates.

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2487 Points Posted on 03 July 2022
Calculate int every year as per table
else
pay tax on maturity
you have both options
1 Reply
On 03 July 2022 at 10:41
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Chartered Accountant
86505 Points Posted on 03 July 2022
You have to declare Interst on NSC every year as per % notified by IT not on maturity
1 Reply
On 03 July 2022 at 18:46

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