NSC accrued interest

POSTED BY Bijay Agarwal ON January 19, 2011 2:53 pm COMMENTS (2)

Hi,

 

I want to know about the NSC accrued interest. I have taken a NSC last year (FY 2009-2010) and what is the accured interest benefit that i get if declared under 80c for this year (FY 2010-2011) ?

Also what if I don’t declare it now and wait until the entire maturity period ? Do we get benefit under accrued interest for the total interest amount at the end of 6 years?

2 replies on this article “NSC accrued interest”

  1. Tax benefits are available on amounts invested in NSC under section 88, and exemption can be claimed under section 80L for interest accrued on the NSC. Interest accrued for any year can be treated as fresh investment in NSC for that year and tax benefits can be claimed under section 88.

    Hope it will help you.
    InvestmentKit.com

    1. Bijay Agarwal says:

      Thanks for your reply. Can anyone help on the next part ?

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