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Hello sir . I am very confused about the terminology of of investments in diff investments accounts. I have studies diff notes. In one it says NiSa is exempt while other says its taxable. Can u plz answet clearly what kind of common terminology can we come across in exams, and whether its taxable or not? N also plz tell us whether it will be received gross or net? Thank you!!
You will find all of this dealt within chapter 2 of the OT notes and lectures which I would ask you to listen to, but from what you have said I think your problem is that you are confusing some of the terms!
NISA is ALWAYS exempt but National Savings & Investments often abbreviated to NS&I may consist of NS&I Certificates which are exempt and NS&I Accounts where the interest is TAXABLE and is received gross!
Go back to chapter 2!
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