NSC intrest is Tax free or not if total amount after maturity is above 1 Lakh ?

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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 X

Answers

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