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 How long does it take for the csa do start arresting wages?
If the person is in a regular job not self employed etc. Ex will not pay so curious and I do work. All these people who claim lazy so and so claiming csa, it is a private claim, my baby is under 3 ...


 (Hypothetically) If i where to win a house worth 2.5 million how would i pay the taxes and everything.?
If you win a house or something that you dont want to sell and you where responsible for all the taxes and everything, How would you be set up to pay that. Would you be put on payments or what. T...


 What should i do i still did not recieve my w-2 forms?
I work for a solo practicing attorney who pays me by personal check and has an account take care of the w-2 of his employees.. i have not recieved my w-2 yet and have made several calls to my boss...


 How to evade income tax in India?
The objective is to outline all tricks people employ in India so that Government can unearth black money.

One trick:
I have noticed vegetable vendors and furniture shops whose capital ...


 Can you still claim bank charges back?
I have sent off for a copy of my statements,but not sure when i will be able to claim back bank charges again....


 I sold a piece of property for 12000 my parents gave me in 2001. do i have to pay capital gains on the sale?
...


 What is Texas's state flower?
What is Texas's state?Where have the picture?Can you talk to me?...


 I'll be coming to some money soon & want to put it into a building society that hasn't been privatised yet so
when they do privatise i'll get a bonus hand out are there any banks left in the uk like this....


 Will teenagers be eligible for the 2008 tax rebates?
If they have worked in the past and are filing taxes for the 2007 years?......


 How does paying taxes on stocks work?
When do you pay the taxes on money gained from stocks? If all the money I've gained is still tied up in the stocks (that i originally invested in) at the end of the year, do i still need to ...


 This is a stupid question but how do I add 6 percent sales tax to something im not good at math?
...


 When do i get my refund?
i filed my taxes early on the 9th but wasn't sent till the 12th, irs just processed yesterday, when will i receive my refund anticipation check, does anybody know. i'm in need of money....


 If my boss didn't give me a W-2 for babysitting for him on the side, do I still have to report the earnings?
My boss did send me a piece of paper with the total earnings of babysistting along with my W-2 for working my regular job.
Additional Details
It was about $1,000 I made babysitting. I ...


 Do I have to report taxes when recieving check from employee in another country?
I have been offered a job as a personal assistant for a company that is based out of china and I live in the u.s.a. They plan to pay me $500/week but I don't think they are deducting any taxes. ...


 My ex-employer will NOT issue me a 1099. How do I report the income?
It is a rather sordid tale. I received payment for work I did in tax years 2006 and 2007. It was completely under the table with very few records. I resigned when I discovered illegal activities (...


 I have just recieved my Council Tax demand,should I let my dog eat it ???

Additional Details
Ps. No dogs where harmed in the making of this question ;-D....


 Why haven't I received my tax stimulus check yet?
My social ends with 00 and I have my taxes direct deposited. Why havent I received my deposit yet? I thought they were going into the direct deposit accounts starting Monday....


 How many Newborn & Baby/Parenting regulars, or former regulars, are in our possee?
I'm taking role call. As some of you know, I am a former TC in that section, and I think that some of us are living proof that we're not all hormonal, humorless, whiny wenches (much)....


 Is the national lottery a back door taxing system?
...


 If I win the lottery, and want to give some to friends and family, will they be taxed on its - gift tax?
...



Mahesh S
Wheher interest accrued on National Saving Certificate qualifies deduction u/s 80C ?
                     
 




MooN
Rating
Item number 9 of the following may help you.
Following are the different items where you can invest to get a maximum deduction of 1 lac u/s 80 C

1.LIC insurance premium (including payment made by govt employees to the central govt employees' insurance scheme and payment made by a person under children 's defered endowment assurance policy){subject to a maximum of 20% of sum assured}

2.Amount deposited as term deposit for a period of5 years or more accordance with a scheme framed by the govt (applicable from Assessment year 2007-2008)

3.Payment in respect of non-commutableDeffered annuity plan

4.Any amount paid as tuition fee (not including any payment towards development fees/donation/payment of similar nature) whether at the time of admission or otherwise to any university/college/educational institutions in india for full time education

5.Salary deducted by employer (incase of Govt employee)

6.contribution to Statutory provident fund and RPF.

7.contribution towards 15yrs PPF

8.contribution towards approved superannuation fund.

9.Subscription to National Savings Certificate VIII issue.

10.contribution for participating in the ULIP of UTI

11.contribution for participating in the ULIP of LIC mutual fund

12.Payment for notified annuity plan of LIC or any other insurer.

13.Subscription towards notified units of Mutual Fund or UTI

14.contribution to notified pension fund set up by Mutual fund or UTI (i.e retirement benefit pension fund of UTI)

15.Any sum paid including accrued interest as subscription to home loan account scheme of the National Housing Bank or contribution to any notified pension fund set uo by the national housing Bank.

16.Any sum paid as subscription to any scheme ofa> public sector company engaged in providing long term finance for purchase/construction of residential house in India.b> housing board constituted in India for the purpose of planning, development or improvement of cities/towns.

17.Any amount towards the cost of purchase/construction of aresidential property (including repayment of loan taken from Govt. bank, cooperative bank,LIC,National Housing Bank,assessee's employer where such an employer is a public company/public sector company/university/co-operativ... society)

18.amount invested in approved debentures of, and equity shares in, a public company engaged in infrastructure including power sector or units of amutual fund proceeds of which are utilised for the developing, maaintaining,etc of a new infrastructure facility


helpaneed
Rating
Interest accrued on National Saving Certificate qualifies deduction u/s 80C within overall limit of Rs. 1 lac only. No further special treatment to such interest is extended anymore.


cmr
Before reading my answer let me clarify that I am not a CA. You kindly check out with the auditor

Interest accrued on NSC is qualified for deduction under 80L
Interest will be calculated on specific year
eg. if u have invested
1.60000 in 2003
2.60000 in 2004
3.60000 in 2005
4.60000 in 2006

Here each of the NSC 's interest will be calculated depending upon the year
Then the total interest is calculated
If the interest exceeds Rs. 12,000/- then the exceeded amount will be shown in "INCOME FROM OTHER SOURCES" or" CAPITAL GAINS"

You will be exempted till Rs. 12,000/-
This was the procedure till LAST YEAR.

I AM NOT SURE ABOUT THIS YEAR

Follow the link
http://incometaxindia.gov.in/general/taxbenefits.asp


sr50kandala
Rating
YES. It can be claimed on showing the deposit receipt. However, clarification can be had from itrules.com from net or Incometax.com


Tushar k
Yes for next 5 years.


Ganesh
Interest accrued on NSC is taxable. Only the investment amount qualifies for deduction.


Santosh
Rating
Yes, the interest is also taxable.


dinku
yes, intt. accrued on NSCs qualifies deduction u/s 80C subject to the overall limit of Rs. 100000/=.


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