NSC CALCULATION
This query is : Resolved
06 December 2008
HI GUD EVENING,
ONE OF MY FRIEND IS A DOCTOR. HIS TAX AMT FOR THE PERIOD 2008-09 IS RS. 27799. HE GOT AROUND 1 LAKH RUPEES NSC. PLS ADVISE ME HOW MUCH NSC REQUIRED FOR THE TAX AMT OF RS.27799 TO GET INCOME TAX EXEMPTION.
AWAITING FOR YOUR EARLY REPLY.
ONE OF MY FRIEND IS A DOCTOR. HIS TAX AMT FOR THE PERIOD 2008-09 IS RS. 27799. HE GOT AROUND 1 LAKH RUPEES NSC. PLS ADVISE ME HOW MUCH NSC REQUIRED FOR THE TAX AMT OF RS.27799 TO GET INCOME TAX EXEMPTION.
AWAITING FOR YOUR EARLY REPLY.
07 December 2008
For back working Net Taxable Income from Tax amount, one needs to know whether your Doctor friend is a Sr. Citizen, woman assessee etc.
There is no clarity especially in last word of your sentence "HE GOT AROUND 1 LAKH RUPEES NSC." Did he already purchase NSCs worth Rs 1 lac in this year or he purchased in previous years.
Coming to the main issue, I would suggest your Doctor friend to prefer 5 year Tax Saver Deposit with Karnataka Bank offering 11 percent interest. This is more advantageous than NSC
There is no clarity especially in last word of your sentence "HE GOT AROUND 1 LAKH RUPEES NSC." Did he already purchase NSCs worth Rs 1 lac in this year or he purchased in previous years.
Coming to the main issue, I would suggest your Doctor friend to prefer 5 year Tax Saver Deposit with Karnataka Bank offering 11 percent interest. This is more advantageous than NSC
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Disallowance of Section 43B(h) to sez units
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- GSTR9 applicability
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
