Income tax query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 November 2012
Hi,
I bought NSC in 2005 at 10000 which is get matured last year at cost 16060.
but i redeemed that certificate this year in november.Now i wanted to file ITR.So how much income should i take into a/c,is it rs 10000 or 16060 or only profit Rs 6060.
please guide me is my total income from LNCG .while filling ITR whre should i take this entry of profit
I bought NSC in 2005 at 10000 which is get matured last year at cost 16060.
but i redeemed that certificate this year in november.Now i wanted to file ITR.So how much income should i take into a/c,is it rs 10000 or 16060 or only profit Rs 6060.
please guide me is my total income from LNCG .while filling ITR whre should i take this entry of profit
26 November 2012
Income will be 6060.
You were supposed to show this income on Accrual Basis from 2006. But as you have not shown the same, now you have to show the whole interest in this year.
You were supposed to show this income on Accrual Basis from 2006. But as you have not shown the same, now you have to show the whole interest in this year.
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