NSC Interest & 80TTB


This query is : Resolved 

Quick Summary
This discussion clarifies that interest earned on National Savings Certificates (NSC) is eligible for deduction under Section 80C. Crucially, it also confirms that this same interest can be claimed as a deduction under Section 80TTB. This means you can indeed claim a double deduction for NSC interest, utilising both sections for tax benefits.

02 December 2021 NSC interest is allowed as deduction U/S.80C . Whether it is also allowed as deduction U/S.80TTB ?

02 December 2021 Yes. Interest earned on NSC can be claimed as deduction u/s 80TTB.

02 December 2021 It means I can claim double deduction for NSC interest u/s 80C & u/s 80TTB

02 December 2021 Yes. Allowed...


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