Income Tax - Intt. on NSC Treatment

sachin v (abc) (82 Points)

25 June 2009  

Dear Sir,

Pl inform me how we will consider Intt. on NSC purchased in FY 2006-07. Full benefit taken u/s 80-C in the FY 2006-07. Is the Interest exempt from tax or it will be added to GTI and Rebate u/s 80 will be taken in FY 08-09 while filing IT Return?

Pls clarify.  

Regards,

Shalini