Menu
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
Recent Threads
- AGM WITH SHORTER NOTICE
- 15CA/15CB Bulk Filing Automation Tool – Need
- GSTR 9 FY 2023-24 LATE FEE
- Should we go under Section 59 of IBC or Section 27
- HUF'S ISSUE
- Gst interest and penalty doubts
- TDS RATE ON RENT FOR NRI
- NBFC costing
- Taxablity of GSLI under Income Tax
- Final new course clarification
Related Threads
CAclubindia
