05 August 2012
i) Investment in NSC is covered under the Rs.1 lakh cap of section 80C and accordingly, can claim deduction in the year of investment. ii) Interest on NSC is taxable and can be offered either year wise or at the time of maturity in lump sum.
05 August 2012
Thnk B.Chackrapani Warrier sir, but can u plz explain the interest taxability wit the help of an example as mah concept in dis regard is not clear.
CAclubindia
