CAN ANYONE EXPLAIN THE NATIONAL SAVINGS VIII ISSUE N TREATMENT OF INTEREST INCOME UNDER 80C DEDUCTION IN SIMPLEST WAY PLZ....
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NSC VIII UNDER 80C
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CONTRIBUTION TO NSC VIII ISSUE IS FULLY EXEMPTED U/S 80 C AND INTEREST ACCRUED ON IT IS ALSO EXEMPTED BUT IN THE LAST YEAR IT IS TAXABLE.
FIRSTLY ADD INCOME AS ACCRUED INTEREST ON NSC UNDER INCOME FROM OTHER SOURCES AND THEN TAKE DEDUCTIONS U/S 80C IN ALL YEARS EXCEPT INTEREST OF LAST YEARS.
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