National Savings Certificates interest taxed on annual accrual; no tax deducted on discharge value payment. Interest on National Savings Certificates (VIII Issue) is liable to tax under the Income-tax Act, 1961 on the basis of the annual accrual method specified ... Summary
National Savings Certificates interest taxed on annual accrual; no tax deducted on discharge value payment.
Interest on National Savings Certificates (VIII Issue) is liable to tax under the Income-tax Act, 1961 on the basis of the annual accrual method specified in rule 15, and no tax is to be deducted at source when the discharge value is paid.
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