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NSC Accrued Interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 May 2011 Sir,
I would like to know whether NSC Accrued Interest is comes under Income or under Deduction. As one my client (Salaried) who claims deduction of NSC Accrued Intt. from Gross Income (Not shown in Column 80C).
Is this correct ?
Plz treat the matter on urgent basis.
Thanking you Sir.
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CA Navin Jain

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CA Navin Jain (Expert)
23 May 2011 accrued interest on NSC will be taxable under the head of income from other sources and same amount will be allow as deduction u/s 80C

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