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Tax implication on maturity of FD, NSC, & LIC

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(Querist)
20 July 2008 Kindly let me know that what is the tax implication of payment received on maturity of LIC, NSC,FD, PPF and PF.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
21 July 2008 Amount received on maturity of LIC, PPF and PF is not taxable. However, the amount of interest on FD and NSC is taxable on accrual basis every year and at the time of maturity the intt for last year only is taxable.

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