NSC income tax rules 2023-24  

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Could not understand your doubt

As per my understanding, if a person invests in NSC say ₹150000 every year consequently for five years, then also interest for first four years becomes non taxable, irrespective of person crossing the maximum limit under 80C. Because four years of interest have been reinvested again in NSC. Therefore only the fifth year NSC interest becomes taxable. Yes his deduction under 80C gets restricted at Rs 150000 lesser than actual investment.

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Galti se nahin bataya. Video aapne skip kiaa hai. Pehle bolaa hai ki aasani se samjh aa jaaye isliyr 7% Maan lete hai.

​@@investment_Tax_mutualfundsyes,,,sir ne pehle hi clear kr diya tha.mene video Puri watch ki h...sir aapne bahut achhe se sare dout clear kiye h.thanks sir😊

Welcome

Thanks a lot 😊

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Jiska first name hai NSC mein, sab tax usko dena hogaa

Jiska Name pahle hoga tax usi ka lagega. Wo bhi kewal 5th year ke intrest par

@@investment_Tax_mutualfunds yes please you are right

Thanks a ton

​@@investment_Tax_mutualfundsthis year I invest in nse 1lak...the interest generated 7000/, is next year then how can we show 1,07,000/- In my view...2023-24 invest nsc 1lak and show it in 80c 1lak only, Next FY means 2024-25 we show first year interest of nsc 7,000/- Soo on up to 4 years right??? Plz confirm...it ....in ur video u show 107000 as 80c....how can we claim 80c with interest..plz clarify it once in this comment😊

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Yes

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We can provide a solution figures to you. Fee payable

Yes, correct

We have softwares for that

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You're welcome

Demand notice ka sorf reply daal do. No issue.

In the new tax regime, NSC interest is taxable every year.

@@investment_Tax_mutualfunds okk.. My AIS report didn't show NSC intrest that's why asked. So should I add my NSC accrued intrest by myself instead of automatic calculation ?

Send us figures . We will calculate for you

Thanks

We will make a detailed video on this topic very soon

If your income was under 2.5 lakh in previous 4 years..then ok

​​@@investment_Tax_mutualfunds if income is more than 2.5 lakh than what to do?? I need a whole 5 years in interest in the 5th year ITR??

​@@investment_Tax_mutualfundssame question please clear

The information given in the video is 100% correct.

If you feel you are 100% correct be happy. But it is not so. In the video at 6:28mim you are saying that in the 1st year you can take 107000 u/s 80C when you have invested only 100000. This is wrong. In the year of investment only the investment principle amount ie 100000 can be considered u/s 80C and the accrued interest of 7000 can be taken u/s 80C only in the following year. You may verify this with the IT department or a tax consultant CA.

Again, the information given in video is correct. Re consider your theory. Plz don't hesitate to connect us on whatsapp 7888350093. No calls plz

​@@investment_Tax_mutualfundsSir a woman (House wife)invest 1500000 (fifteen lac rupees)@8%interest in June 2019 How much amount has she will have to pay the tax?

Scheme name ? And for which financial year, are you asking?

June to 31st march

AIS galat hai. Aisa sirf 1 scheme ka nahin, kaai schemes ka galat hai. Video information is 100% correct

Yes.

NSC better. Waise mutual funds the best hai.

​@@investment_Tax_mutualfundssir kya mutual fund 💯 safe hote h? Kya ye government ki skim hoti h . please iss pr b details video bnany😊

Video very soon

NSC interest is taxable on yearly basis.

No TDS. TAX ONLY

Agar koi aur income nahin hai to zero tax

AIS fail hai. Us ko dekho hee mat

It's taxable

That is self declaration

Ignore AIS

ITR bhar ke income show karo

Already discussed the same

Taxable

It's already 1.5L

Please guide me

Plz send again as a fresh comment.

Thanks

Only interest amount

Dono

Send proper figures

Whatsapp 7888350093. No calls plz

Yes

AS PER AIS tax de dena chahiye ab apko

Thank you ​@@investment_Tax_mutualfunds

In NSC it is only 5th year interest, which is not considered under 80c

@@investment_Tax_mutualfundssir, have you any notification/order about this

It's nothing new. I have to search for secrion. But we don't post nonsense videos.

No tax. No ITR required.

Sir No tax no itr magar NSC ke maturity pr to tax lagega wo kaise dena hai wo bataye kya maturity ke baad itr file kar ke tax dena hoga kyuki TDS to katega nhi

Sab bakwaas hai. Aisa koi rule nahin hai

No

For which year tax calculation required.

2024-25 Fy

One ATM

@@investment_Tax_mutualfunds sir par mere mumy papa ka joint account hai post office me jisme scss aur mis ka interest aata hai. Mumy papa ke paas alag alag atm hai sir usi account kaa

2023-24

Tax on NSC has to be paid on yearly basis

But if on maturity total interest is again shown in AIS ,then what which I hv already asked but not replied.pl guide.

No. Father can gift you any amount. Till 250000 per year income...you are tax free.

🙏

4.7% rate milega

​@@investment_Tax_mutualfundssir kitna katega 6870 interest me se

6870 aapki total income mejn add kar ke aapko total Income par tax slabs ke hisaab se tax lagaya jayega.

Yes

Aisa nahin kahaa ki PPF mein kam kar ke tax NSC wala save kar lo. Assumed hai. Agar PPF mein 140000 kiaa hai to ye situations hongi

​@@investment_Tax_mutualfunds आप सही कह रहे हो, पर ये भी तो सच है की, जितना आप PPF या SSY में कम निवेश करोगे, उतना ही आपके Final Corpus पर फरक पडेगा। आप जो बता रहे हैं, वो सिर्फ उन लोगों के लिए लागू हैं, जो लोग Section 80C क़ा पूरा ईस्तेमाल नहीं करते हैं। 🙏😊👍

Yes

​@@investment_Tax_mutualfunds 👍👏🙏😊

No

Added in your total income Tax payable as per your tac slabs

Thanks sir for your reply Now my age 56 yrs. after 5yrs. 61yrs then which is countable sineer citizen or of NSC deposited age for tax deduction reply please

Aapke mother ko tac dena hoga...agar aapne mother ko 30 laakkh gift kiaa hai

@@investment_Tax_mutualfunds sir ye 30 lacs mere father ke account pr hai jo expire kr gye ye koi gift ni hai....pls ab bataiye ky tax dena hoga??

Samjh nahi aaya mujhe. 7888350093 whataapp par voice message send kijiye. No calls plz

Effective 01-Apr-2020, the income tax benefits will depend upon whether you choose old tax system or new tax system. Old Tax System: The deposit amount (up to Rs. 1.5 Lakhs) will qualify for tax deduction under Section 80C of Income Tax Act. The yearly interest accrued needs to be declared under section "Income from other sources". The yearly interest accrued in this scheme is considered to be re-invested under Section 80C of Income Tax Act and hence eligible for tax deduction. So, "Income from other sources" and "deduction under Section 80C" cancel each other and make this scheme tax free on interest. Only the interest earned in the last year (5th year) is taxable as it is not re-invested and it is paid back to the investor. No TDS (Tax deduction at source) in this scheme by Post Office. New Tax System: No income tax benefits. The deposit amount won't get any deduction benefit under section 80C of Income Tax Act. The interest amount will be taxable at maturity. You need to be declare the interest amount under "Income from other sources" during tax returns and pay income tax as per your income tax slabs. No TDS (Tax deduction at source) in this scheme by Post Office.

@@investment_Tax_mutualfunds sir, suppose my NSC matured in Feb 2023 and I am planning to close the nsc or withdrawing the amount in Apr 24...so in Old regime, interest will be reflected in the AIS 23-24 or in AIS 24-25?

23-24

@@investment_Tax_mutualfunds Thank you so much

​On new tax regime whole interest will be calculated? Or only 5th year interest?​@@investment_Tax_mutualfunds

Yes, it is

Age ??

@@investment_Tax_mutualfunds 33 age

Jis bank mein 10000 se zyada interest banega, wahaan katega

Jo bhi NSC lia hai wo 4 saal tak tax free hogaa

​@@investment_Tax_mutualfundssir maine 18-1- 2018 ko 1.5 lacs ki nsc poat office me ki thi jo ab 2023 me mature ho gyi hai , meri salary 7-8 lacs yearly thi to hum ppf me 2018 se invest karke 19 20 21 22 me even 23 me tax chhut ka labh lete rhe...nsc ko kewal 2018 me show kiya tha Ab 2023 -24 FY K end me jab tax file kiya to high demand ka ek notice aaya jo nsc k five year k byaj k.amount ka hai... Is saal hum tax k liye ppf me 1.5 lacs ka investment kr chuke hain.. Ab Kya humko nsc ka byaj total 65000 something par tax dena hoga ya fifth year k byaj 15000 something par ... Please clear...

Thanks all

Har saal subject to 80c

Question not clear.

Mincome matlab ??

@@investment_Tax_mutualfunds income

Jis saal 10 lakh ka NSSC liqa hai us saal tax zero. Baad mein padega

Annual information statement by income tax department

Depends on your total income

Total income mein add hogaa

@@investment_Tax_mutualfunds only last year interest pa ya pora 5years interest mai

Sir, scheme name ?

Feeling ss tax nahi lagtaa sir. Rules se lagtaa hai

Interest rate

Investment amount only

Thanks

Sbi

​@@investment_Tax_mutualfundsSBI kyun sir wahan to tds bhi ktega naa...meri koi earning nhi h sir...jo already account me paise padein h usi ki fd karwani h....post office ki 1 saal Vali better h yaa 400 din wali SBI ki

Sir..TDS naa Katwana ho to aap 15g form de sakte ho