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Weather amount received on maturity of NSC is taxable

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Guest

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Guest (Querist)
16 July 2009 Weather amount (principle + interest) received on maturity of National Saving Certificate, VIII issue is taxable in the year of receipt or not?
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chetan soni

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chetan soni (Expert)
16 July 2009 The interest part only is taxable in the year of receipt, if the same was not taxable on accrual basis.

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