Returns filing

Divya Priya (student) (333 Points)

31 July 2019

My friend invested in NSC VIII ₹50000 on 25-1-19 to 25-1-24.How to show the interest and principal amount every year when filing the returns.

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CA PREM KUMAR (Chunduru & Co) (296 Points)
Replied 31 July 2019

nsc falls under 80c, principle will be shown in the year of deposit under 80c

for next 5 years claim interest under 80c on accrual basis.

on maturity pay tax on interest i.e., in 2024

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Divya Priya (student) (333 Points)
Replied 31 July 2019

That means in 1st year 50000+ interest under sec 80C and Interest in Income from other sources will be shown right?

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CA PREM KUMAR (Chunduru & Co) (296 Points)
Replied 31 July 2019

yes. first interest tii 31.03.2019 also can be shown under 80c.

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Divya Priya (student) (333 Points)
Replied 31 July 2019

Thank you sir.

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