Hey,
There are numerous benefits of investing in a National Savings Certificate (NSC). Under section 80C of the Income Tax Act, the amount invested in NSC is tax exempted. NSC has a tenure of five years. You can show 3rd and 4th-year interest in IT return as the interest accrued on the first four years is automatically reinvested. Only the interest for the fifth year of NSC is paid-out to the investor along with the maturity amount. The amount given in the fifth year is taxable.
Read more:
How to file zero Income Tax Return online?
Who should file Income Tax Return?
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Authors Of The Question
NSC interest omitted to show under income from other sources in IT return. Can we show 3rd and 4th years interest in IT return?
sivamumar pk
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1 Answers
2 Year
2022-12-06T10:31:39+00:00 2022-12-14T12:28:33+00:00Comment
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