NSC Maturity
This query is : Resolved
12 July 2008
Sir,
I have received am amount of Rs.33456 on maturity of NSC.So, is it taxable or not. If is it exempted so which section,
Thanks
I have received am amount of Rs.33456 on maturity of NSC.So, is it taxable or not. If is it exempted so which section,
Thanks
12 July 2008
Interest accrued on NSC is taxable on yearly basis. However, the interest accrued on NSCs for the first five years is elegible for deduction under section 80C on yearly basis. Thereafter, the amount received at the time of maturity is not subjected to income tax.
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
- GST Regis.
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- Tax on capital gains revoked us 54f
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- HSN Details in IFF/GSTR-1 & in GSTR 9
- 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
