Nsc tax computation

P V Deshpande (Professional) (27 Points)

24 December 2013  

I have been purchasing 5-year NSC through Post Office every month (say 1000 Rs) in the name of my wife or sometimes jointly. My wife is home maker. My queries are as follows- 

  1. How to compute or calculate tax for such transactions?
  2. Whether joint NSC is more beneficial from Income Tax point of view?

Kindly guide. Thanks