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Taxability on NSC

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 July 2010 My client's father expired in 2008. He had invested in NSC and his wife and my client are the 2nd and 3rd holders respectively.

Upon his death, they closed the NSC account and hence have received the proceeds by cheque.

Are these NSC proceeds taxable in my client's hands?
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
20 July 2010 https://www.caclubindia.com/forum/faq-on-nsc-93869.asp
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
20 July 2010 It is not taxable in your client hand
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