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Category : Taxation..,
I had purchased NSC worth Rs. 45000 (10000+10000+10000+10000+5000) few years back and I had not shown them in my ITreturns Now they had matured and now I will get 90000. Pls tell me how much tax would I have to pay on these NSC?
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Amlan Dutta
NSC is a interest bearing instrument ...note that in interest bearing instruments , only the interest is to be offered for tax and not the principal

Offer interest income (i.e Interest minus principal ) as interest income under income from other sources and pay tax as per slabs ....typically howeve...