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if i invest NSC on 15th April 2006, will I be taxed on maturity for this NSC?
I came to know that NSC shall be taxed at the maturity (as and when, the related bill will be passed in mansoon session of parliament). What will happen to investment from 1st April 2006 till this mansoon session?
1 Answer
- 2 decades agoFavorite Answer
See, the interest from NSC was talways taxable. There was always option with the individual to show interest as income every year or the total interest received on NSC matured value, as income in that year. So, the option is yours.In my opinion, show interest every year and as an when the law changes reduce that much mount which you have already offered for taxation
