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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Interest earned on NSCs taxed - Since in the present case the ...


Interest from Matured National Savings Certificates Must Be Taxed in Current Assessment Year.

April 2, 2016

Case Laws     Income Tax     AT

Interest earned on NSCs taxed - Since in the present case the NSCs were due way back on the date of maturity, therefore, the interest earned on the said NSCs are required to be added to the income of the assessee in the current assessment year. - AT

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