Easy Office
LCI Learning

NSc interest

This query is : Open 
Profile Image

Profile Image

(Querist)
06 April 2009 When we purchase NSC,then we get deduction u/s 80c.

Now when intt. Accrued on such NSC,it is exempt under sec10(15).

My question is that can we get the deduction of 80C on such intt ,although such intt ìs not forming part of our gross total income....??????????
Profile Image

CA Anil Jain

Profile Image

CA Anil Jain (Expert)
06 April 2009 Firstly Interest on NSC is taxable under Income from Other source then only it is deductible u/s 80C subject to all deduction of 80C upto Rs. 1 Lakh.
Profile Image

CA Devanshi Gandhi (Ajani)

Profile Image

CA Devanshi Gandhi (Ajani) (Expert)
06 April 2009 i agree with the expert
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Lalit aggarwal

Profile Image

Lalit aggarwal (Querist)
07 April 2009 Sorry i hav doubt on that view of expert...plz check out sec10(15) with the prov of 80C.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links