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taxablity on NSC

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(Querist)
05 July 2008 can anybody tell me regarding the taxablity of national saving certificate in income tax act.
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Satish K Sekhar.ACCA

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Satish K Sekhar.ACCA (Expert)
05 July 2008 Interest accrued on national saving certificate is taxable. Pricniple amount of NSC is available for deduction from the gross income of individual U/S 80 C of IT Act

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