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DEDUCTION U/S 80C-NSC

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ravi verma (Querist)
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25 March 2009 Dear members

One of our employee has invested in 6 years NSC on her mother and her own name..means joint name NSC./nw my question is that can that employee claim this NSC amount u/s 80c??

CA J M Pattanayak

CA J M Pattanayak (Expert)
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25 March 2009 Only partial amount of her portion of deposit can be claimed.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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25 March 2009 No.
The fisrt joint-holder only is entitled to claom the deduction and for liable for taxation of interest thereon.

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