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Friday, April 26, 2024
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| Q | NSC intrest is Tax free or not if total amount after maturity is above 1 Lakh ? | |
Posted By : Subrat Kumar Mohapatra , bhawanipatna, bhawanipatna | On 7.1.2011 |
Post Answer
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| 1 | Deposits in NSCs up to Rs. 1 lakh can be availed as deduction under Section 80C of the Income Tax Act. The annual interest earned is deemed to be reinvested and thus qualifies for the deduction under Section 80C |
| Posted By :admin , Kochi | On 10.1.2011 | |
