Interest income on National saving certificate

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K BHEEMA REDDY (Querist)
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04 July 2023 Dear Sir,
Interest earned on maturity of National saving certificate is taxable or not..? and also interest earned on PPF & FD is taxable or not.. Please guide me with relevant section.

Thanks & Regards,
Bheema Reddy.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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04 July 2023 Interest earned or accrued on NSC and FD is taxable annually, while that from PPF is tax-free. Interest accrued on NSC is eligible for deduction u/s. 80C of the act.

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