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Taxable income
is NSC interest MIS interest taxable
Replies (3)
You need to show in the ITR but those are exempt
Thanks
MIS & NSC interest both are taxable.
However, in case of NSC as it is a cumulative scheme, interest is reinvested and hence eligible for 80C deduction. Only final year's interest payout is not eligible for 80C as it is paid out to the investor
However, in case of NSC as it is a cumulative scheme, interest is reinvested and hence eligible for 80C deduction. Only final year's interest payout is not eligible for 80C as it is paid out to the investor
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