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HUF and NSC

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 May 2011 can huf invest in nsc in its own name??

n if huf invest in the name of his karta than who will get the deduction??
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
12 May 2011 HUF can not invest in NSC though its own name. It has to invest it through its karta only. Even if the name on the NSC is of karta, the deduction shall be available to HUF only as source of payment is important.
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