Is there any deduction/exemtion/rebate in respect of interest from NSC?
Interest income from nsc (national saving certificate)
Aditya Kumar (Accountant) (28 Points)
26 December 2014
5 Replies
CA Ragini
(CA)
(405 Points)
Replied 26 December 2014
Actually the amount of interest accrued on NSC every year is shown as income from other sources for the first five years.....and you can claim the interst so earned every year as deduction u/s 80c as amount reinvested.
Sanjay Singh
(Student CA Final )
(39 Points)
Replied 26 December 2014
it is subject to maximum Rs.150000 for AY 2015-16
Neha Khandelwal
(no)
(25 Points)
Replied 27 December 2014
Yes it is subject to maximum Rs 150000 for AY 2015-16. It is include Under sec 80 C exemption limit.
Ramanuj
(Accountant.)
(834 Points)
Replied 27 December 2014
yes interest on nsc deduction u/s 80 c subject to 150 lac less then and last six year interest on nsc taxable.
Thanks & Regards
Ramanuj
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