Interest on nss
This query is : Resolved
06 September 2012
Whether interest accrued on National Savings Scheme is taxable or not.
06 September 2012
Both options are available in that case
interest can be taxable either accrues or received basis. dependas on the choice of taxpayer
interest can be taxable either accrues or received basis. dependas on the choice of taxpayer
06 September 2012
Fully taxable in the year of receipt vide section 80 CCA(2)(a) of the Income tax Act,1961.
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