Dear Readers,
Hear are few points regarding National Savings Certificates (NSC) which you can use for your TAX PLANNING.
* Scheme specially designed for Government employees, Businessmen and other salaried classes who are IT assesses.
* No maximum limit for investment.
* No tax deduction at source. (Interest on NSC is taxable)
* Certificates can be kept as collateral security to get loan from banks.
* Investment up to Rs. 1,00,000/- per annum qualifies for IT Rebate under section 80C of IT Act.
* Trust and HUF cannot invest.
* PPF – A good way of saving for your old age.
* Buy National Savings Certificates (NSC) & Kisan Vikas Patras (KVP) every month for six years – Reinvest on maturity and relax - On retirement it will fetch you monthly pension as the NSC/KVP matures.
National Savings Certificate Act
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