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Interest on NSC

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Abhishek Roy Choudhury asked over 2 years ago

Dear Sir, An assesse had purchased a NSC in F.Y. 2009-10 and this is the 5th year for Interest on NSC i.e. F.Y. 2014-15. Can he get the Interest amount as deduction under section 80C for this financial year. Please suggest as early as possible. Your valuable reply would be helpful. Thanks, Abhishek Roy Choudhury.

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Open uri20170510 32134 59004f?1494421790 Anshul Dhawan answered over 2 years ago

Hii Abhishek yes he can take interest as deduction as per sec 80C. under 80C investment and maturity amount are tax free but interest which is fixed is taxable afterwards you take interest as a deduction max upto 1.5 lacs.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 ranjan bhutani answered over 2 years ago

yes he can take interest as deduction as per sec 80C. under 80C investment and maturity amount are tax free but interest which is fixed is taxable afterwards you take interest as a deduction max upto 1.5 lacs.

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