3 Replies
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 20 June 2020
You need to show in the ITR but those are exempt
Bhavin Shah
(Chartered Accountant)
(821 Points)
Replied 21 June 2020
MIS & NSC interest both are taxable.
However, in case of NSC as it is a cumulative scheme, interest is reinvested and hence eligible for 80C deduction. Only final year's interest payout is not eligible for 80C as it is paid out to the investor
However, in case of NSC as it is a cumulative scheme, interest is reinvested and hence eligible for 80C deduction. Only final year's interest payout is not eligible for 80C as it is paid out to the investor
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