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NSS Encashment

This query is : Resolved 
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(Querist)
19 December 2009 Whetther amt recd on encashment of NSS is chargeable to Tax
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
19 December 2009 Yes
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 December 2009 Income tax is not payable on the interest earned every year, but the amount that you withdraw (principal + interest) has to be added to your income of that year for computing Income tax.
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