How is the interest paid on NSC?
The interest on NSC is accrued yearly. But is paid out only at the time of maturity. You can reinvest the interest back into the scheme.
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What is the interest rate on NSC?
The interest rate on 5-year NSC VIII issue is 8% from 1/10/2018 onwards.
What is the tax treatment of NSC?
The initial investment in NSC is tax free to the extent of ₹1,50,000 under 80C. Annual interest accrued on NSC is reinvested in the scheme, and hence, is also tax-free. It is only in the last year that any income tax will be payable. This is ...
How to Find Value of Principal and Interest paid on Housing Loan
Asessee can claim deduction of principal repayment from gross total income under section 80C and also interest paid on housing loan can be claim as house property loss. EMI paid during the year are inclusive of principal and interest component. Also ...
What are the rules of premature withdrawal of corpus in NSC?
NSC certificates have a predetermined lock-in period of 5 years. However, premature withdrawal is possible in certain emergency cases like the following Death of the holder Order of the court A Gazetted Officer pledges for the certificates to be ...
Interest
Any interest income received from saving bank account, FD/RD, income tax refund or any other mode. You can avail the benefit of Rs 10,000 U/S 80TTA from saving bank interest if age is below 60. If you are a senior citizen u can avail the benefit of ...