Nsc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2012 My query is how much amount is taxable on the maturity of NSC after 15 years ( amount reinvested after every 5 years). The amount of Rs-100000 reinvested after every 5 years becomes Rs-353610 after 15 years. So from this example how much amount is taxable after 15 years and one more thing if i dont take the interest part in the return on yearly basis then can i take the whole interest after 5 years and file the return accordingly.
Thanks in advance

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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10 December 2012 No, You Need to Take Interest Part of NSC Every Year.

on Maturity Principle is Not Taxable.
and Regarding Interest, Though Its Taxable, Its Deduction You Can Get in 80C Again as ReInvestment.