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Pasi Sumandevi Chhotelal

Pasi Sumandevi Chhotelal (Querist)
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26 July 2009 how to calculat interest on national saving certificate and upto how many year is exempted from tax

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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27 July 2009 NSC Interest is Taxable. You get deduction U/s 80C in respect of interest reinvested. You may calculate yearly interest of NSC purchased on or after 1-3-2003 with the help of following table
Year NSC Amount 1000
Interest
1 81.60
2 88.30
3 95.50
4 103.30
5 111.70
6 120.80