Nsc and PPF tax treatment
Rishi Jhajharia (390 Points)
17 January 2020
can anyone tell me the tax treatment of nsc and ppf,?
Rishi Jhajharia (390 Points)
17 January 2020
Deepak Gupta
(CA Student)
(15922 Points)
Replied 17 January 2020
| Originally posted by : Rishi Jhajharia | ||
 |
can anyone tell me the tax treatment of nsc and ppf,? |  |
NSC:
Interest taxable as income under other source.
But such interest is deemed to be reinvested, except for last year and same is deductible u/s 80C.
Amount invested in NSC is also available for deduction u/s 80C.
PPF:
Interest exempt u/s 10(11).
Contribution made every FY is available for deduction u/s 80C.
Both subject to overall exemption limit of Rs. 1.5 lakh u/s 80C.
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