Deepak Gupta (CA Student) 17 January 2020
|Originally posted by : Rishi Jhajharia|
|can anyone tell me the tax treatment of nsc and ppf,?|
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.
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.