Deduction of nsc in case of joint

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2015 A EMPLOYEE TAKE A NSC AMOUNT 10000 IN JOINT NAME. 1-HIS WIFE 2-SELF. CAN HE GET DEDUCTION OF 10000 IN 80 C OR PARTLY(5000) SOME EXPERTS TOLD ME THAT DEDUCTION OF NSC IN CASE JOINT ACCOUNT ONLY FIRST NAME HOLDER CAN GET DEDUCTION.
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CA Mohit Bansal

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CA Mohit Bansal (Expert)
30 March 2015 You both can deduction of Rs. 5000 each for NSC taken in joint name
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2015 THEN SIR NO MATTER IS THAT FIRST NAME HOLDER CAN GET DEDUCTION IN 80C AND SECOND HOLDER PERSON CAN NOT GET DEDUCTION IN CASE OF NSC
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CA Mohit Bansal

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CA Mohit Bansal (Expert)
30 March 2015 No, as I told you, you both can get deduction for the respective pie of investment
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2015 SIR CAN YOU HELP ME ABOUT EXCISE MATTER
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CA Mohit Bansal

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CA Mohit Bansal (Expert)
30 March 2015 Sure. Please email your query on bmohit02@gmail.com

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