80 C exemption

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43 Points Posted on 04 December 2020
is investment in National Saving Certificate eligible for exemption under section 80 C.
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On 04 December 2020 at 19:47 Report
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Yes, investments in National Savings Certificates (NSC) are eligible for tax exemption under Section 80C of the Income Tax Act. You can claim deductions for your NSC investments, up to a maximum limit of Rs. 1.5 lakh per financial year. This limit applies to all deductions claimed under Section 80C, so ensure your total eligible investments do not exceed this amount.

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574 Points Posted on 04 December 2020
You can invest for up to Rs.1.5 lakh to claim the benefits of 80C deductions.
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On 04 December 2020 at 20:46
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43 Points Posted on 04 December 2020
Thank you for the clarification sir.
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On 04 December 2020 at 22:05
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Tax consultant
5895 Points Posted on 05 December 2020
Yes my is exempt as per 80 c
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On 05 December 2020 at 00:36
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43 Points Posted on 05 December 2020
Thank you.
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On 05 December 2020 at 09:48
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Accountant
3662 Points Posted on 06 December 2020
Yes

You can invest

Deduction is allowed under section 80C
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On 06 December 2020 at 02:09
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43 Points Posted on 26 December 2020
Thank you
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On 26 December 2020 at 22:39
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Financial Consultant
164 Points Posted on 27 December 2020

Investment in NSC is eligible for deduction under section 80 C.

But the maximum limit Rs.150000/- is allowed u/s 80C. If you do not claim other deduction u/s section 80C than you can claim deduction on NSC Rs.150000/-.

If you claim other deduction also then you have to maintain maximum limit Rs.150000 u/s 80c.

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On 27 December 2020 at 11:07

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