Whether NSC Purchased in the name of Spouse or Minor eligible for Deduction US 80C of Income tax Act 1961.
Regards.
Ca Sanjay Baheti
1 Replies
Amir
(Learner)
(4016 Points)
Replied 10 February 2010
Dear Sanjay Sir,
NSC purchased in the name of spouse or minor child can be claimed u/s 80 C
The deduction under section 80C can be claimed by the person who has contributed the monies out of his income chargeable to tax. - Circular No. 405
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