NSC CALCULATION
This query is : Open
06 February 2009
Gud morning,
Please advise how much NSC amt we can take for the Income tax calculation. For e.g, suppose a male individual is having Rs.100000 NSC, can we avail full amt for the income tax payment .
I know that the under section 80c ceiling upto 100000.
Please advise how much NSC amt we can take for the Income tax calculation. For e.g, suppose a male individual is having Rs.100000 NSC, can we avail full amt for the income tax payment .
I know that the under section 80c ceiling upto 100000.
06 February 2009
That Rs.1 lakh can be deducted from gross total income provided there is no other investment like lic,pf etc mentioned in section 80C.
chetan soni
(Expert)
06 February 2009
You can even claim interest on NSC as deduction from income u/s 80C.
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