Interest taxation on NSC certificates: taxed on annual accrual basis under income tax, with no deduction at payment. Interest on National Savings Certificates is liable to income taxation on the basis of annual accruals specified in the rules governing those instruments, ... Summary
Interest taxation on NSC certificates: taxed on annual accrual basis under income tax, with no deduction at payment.
Interest on National Savings Certificates is liable to income taxation on the basis of annual accruals specified in the rules governing those instruments, and no tax is to be deducted at source at the time the discharge value is paid to the holder.
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