20 June 2013
How to disclose the NSC interest accrued and receive on maturity in ITR.
Suppose for the A/Y 2013-2014 i have NSC of Rs. 40000 on which Interest accrued is 3900 along with it one NSC matured on which i receive 2800 as interest.
as far as my information interest receive on NSC at time of maturity is fully taxable and interest accrued during the holding period deemed as reinvested and assessee can claim deduction under 80C.