I had invested in NSC series 8 during FY 19-20.
I understand that the interest accrued during FY 2020-21 is eligible for deduction under 80C in subsequent years. If so, where can I know how much is the accrued interest amount.
Please clarify.
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NSC accrued interest
Replies (8)
Quick Summary
Total deduction of 80C is maximum upto 150000 rupees
Hello Suresh G S,
The interest rate for series 8 in FY 2019 - 2020 is approx 7.9%. You can calculate accordingly. Also if you want to check your self, kindly visit official website of Income Tax Department, and go to tax tools, there you can find Interest on National Savings Certificate Calculator. Fill in the details and you have your desired results.
Thanks and Regards,
RA.
The interest rate for series 8 in FY 2019 - 2020 is approx 7.9%. You can calculate accordingly. Also if you want to check your self, kindly visit official website of Income Tax Department, and go to tax tools, there you can find Interest on National Savings Certificate Calculator. Fill in the details and you have your desired results.
Thanks and Regards,
RA.
NSC accrued interest for NSC of 10000/-
first year. 790
second. 852
third. 920
fourth. 992
fifth 1071
Hi Sourav, Leena and Pravin.
Thank you for your replies. Regards. Suresh
Thank you for your replies. Regards. Suresh
You can google for it.
Thank you Sir
Interest received by NSE should not be allowed as deduction it will be allowed as exemptions
Rates are mentioned by Income tax according to Date of investment.
Check out at official portal of Income Tax
https://www.incometaxindia.gov.in/Pages/tools/interest-on-national-savings-certificate.aspx
Check out at official portal of Income Tax
https://www.incometaxindia.gov.in/Pages/tools/interest-on-national-savings-certificate.aspx
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