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Nsc and PPF tax treatment
can anyone tell me the tax treatment of nsc and ppf,?
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| 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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