Economics · Income Tax Act
Annual interest accrued on National Savings Certificates (NSC) VIII issue held by an individual shall be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Taxable purely on a cash receipt basis
- 2Taxable on the basis of annual accrual under Income from Other Sources✓
- 3Taxable only in the final year of maturity
- 4Fully exempt from tax
Correct answer
Taxable on the basis of annual accrual under Income from Other Sources
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