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Interest accrued on NSC

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 September 2010 If a person has purchased NSC on 26.6.2009 whether any interest will accrue for 2009-2010.my tax advisor has told me no interest will accrue as accrues on financial year to year basis?PLZZZ reply its urgent
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 September 2010 Is it like that first year no interest accrues?
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CA. Prashanth Kumar Jain

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CA. Prashanth Kumar Jain (Expert)
26 September 2010 interest will accrue only on completion of the first year so there is no ineterest accrued for part of the year
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 September 2010 Interest can be accrued for part of year.Plz elaborate

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