I had invested 50000Inr in nsc and got 22000inr as interest in maturity. I want to know all interest is taxable as it is reinvested every year or only 5th year Interst is taxable for income tax filling this year ?
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 05 July 2023
NSC interest is taxable on accrual basis i.e annually and not on maturity..
Rahul Seth
(It )
(30 Points)
Replied 05 July 2023
I had not declare interest in last 4 years in income tax how I can show in this year ? Can I show only this year interest as amount is invested automatically in nsc again.
Rahul Seth
(It )
(30 Points)
Replied 05 July 2023
I had not declare interest in last 4 years in income tax how I can show in this year ? Can I show only this year interest as amount is invested automatically in nsc again.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 05 July 2023
Check his AIS report and follow the income declared in it.
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