NSC interest in ITR-2

Please advice on how to show NSC (National savings certificate) in ITR-2? I got the NSC interest of Rs. 9015.

asked Jul 02 '13 at 20:16 by Pruthvi 263615

You will have to mention this under income from other sources.

Sheet: CG-OS, Under Schedule OS, 1b (Income other than from owning race horse(s), Interest, Gross)

answered Jul 02 '13 at 20:19 by Pankaj Batra 5.2k320

Hi Pruthvi I just want to add one point . There are two ways of dealing with NSC interest. Interest from other sources and make it taxable and pay the tax. or else u have the option of NSC interest reinvestment option which will make your interest taxable for all the five years and only the last year interest is taxable. So you can go for this above mentioned way. Now the point comes what you need to do reinvestment? In the 80 C section there is a row "NSC interest re-investment " you can declare that and this will also adds up to your 1 Lakh. If you have exhausted your 1 Lakh with some other thing , either u need to pay the tax or u need to remove those deductions and add this NSC int investmnt in 80 C. Pls let me know if u got it
(Jul 16 '13 at 19:56) vignesh

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Asked: Jul 02 '13 at 20:16

Seen: 3,152 times

Last updated: Jul 16 '13 at 19:56