2007-03-26 03:10:18 · 5 answers · asked by Mahesh S 1 in Business & Finance ➔ Investing
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.
2007-03-26 03:21:04 · answer #1 · answered by helpaneed 7 · 1⤊ 0⤋
NO . The interest accrued on NSC will not qualified for deduction under sec. 80C.
2007-03-26 10:29:43 · answer #2 · answered by THINK TANK 3 · 0⤊ 0⤋
Interest accrued on NSC is taxable. There is deduction only for the investment.
2007-03-26 10:44:16 · answer #3 · answered by Ganesh 2 · 0⤊ 0⤋
Only the investment made in NSC is deductible from your taxable income. The interest earned through NSC in entirely taxable. Out of all the fixed income investments only the interest earned through PPF is not taxable.
2007-03-26 11:09:58 · answer #4 · answered by supriyo_mukh 1 · 0⤊ 0⤋
Yes, at present it is under 80C.
2007-03-28 14:58:28 · answer #5 · answered by J.L. S 3 · 0⤊ 0⤋