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Nsc and PPF tax treatment


Rishi Jhajharia   17 January 2020

Rishi Jhajharia

 34 likes  390 points

| My Other Post

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

avater

Deepak Gupta (CA Student)     17 January 2020

Deepak Gupta
CA Student 
 2331 likes  15193 points

View Profile | My Other Post

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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