08 July 2012
My Questions is that if I invest in NSC in beginning of the f.y. or middle of the year or end of f.y. then in that f.y. May I take deduction for 1st year NSC accrued interest in same f.y.
08 July 2012
As per prevailing practice and guidelines issued in this regard, you can take interest on completion of the 1 st year. So in the year of purchase interest will not be shown as accrued. .
CAclubindia
