NSC Interest / Amount Received on Maurity of LIC policy
This query is : Resolved
30 March 2010
My question is wheter sum received on maturity of NSC and LIC policy is taxable or not?
30 March 2010
The maturity proceeds of LIC policy is fully exempt u/s 10(10D)
Regarding NSC, only the interest portion of last year(6th year) is taxable.
Regarding NSC, only the interest portion of last year(6th year) is taxable.
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30 March 2010
AGREE
30 March 2010
AGree. However, in case of NSC, the interest accrued yearly should have been shown in the IT return.
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