National saving certificate
This query is : Resolved
16 August 2008
Investment in national saving certificate Is eligible for 80c deduction?
CA Hemant T Dewani
(Expert)
16 August 2008
yes, Investment in national saving certificate Is eligible for 80c deduction
CA.Tarun Maheshwari
(Expert)
16 August 2008
yes
Miss Komal Mantri
(Expert)
16 August 2008
investment is eligible but last year interest is not eligible for deduction as the same is not reinvested..
CA.Tarun Maheshwari
(Expert)
18 August 2008
Dear Komal, I would like to update you in this regard. Interest accruing annually on NSCs is deemed as reinvested, hence that interest is also eligible for deduction under section 80C.
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