National Saving Certificate, NSC Interest Calculator, Chart India Post Office

Filed in Uncategorized 1 comments



What is NSC, National Savings Certificate:

National Savings Certificate, popularly known as NSC, is a time-tested tax saving instrument that combines adequate returns with high safety. NSCs are an instrument for facilitating long-term savings. A large chunk of middle class families use NSCs for saving on their tax, getting double benefits. They not only save tax on their hard-earned income but also make an investment which are sure to give good and safe returns.

NSC Features:

  • Minimum investment Rs. 500/- No maximum limit.
  • Rate of interest 8% compounded half yearly.
  • Rs. 1000/- grow to Rs. 1601/- in six years.
  • Two adults, Individuals, and minor through guardian can purchase.
  • Companies, Trusts, Societies and any other Institutions not eligible to purchase.
  • Non-resident Indian/HUF can not purchase.
  • No pre-mature encashment.
  • Annual interest earned is deemed to be reinvested and qualifies for tax rebate for first 5 years under section 80 C of Income Tax Act.
  • Maturity proceeds not drawn are eligible to Post Office Savings account interest for a maximum period of two years.
  • Facility of reinvestment on maturity.
  • Certificate can be pledged as security against a loan to banks/ Govt. Institutions.
  • Facility of encashment of certificates through banks.
  • Certificates are encashable any Post office in India before maturity by way of transfer to desired post office.
  • Certificates are transferable from one Post office to any Post office.
  • Certificates are transferable from one person to another person before maturity.
  • Duplicate Certificate can be issued for lost, stolen, destroyed, mutilated or defaced certificate.
  • Nomination facility available.
  • Facility of purchase/payment to the holder of Power of attorney.
  • Tax Saving instrument – Rebate admissible under section 80 C of Income Tax Act.
  • Interest income is taxable but no TDS
  • Deposits are exempt from Wealth tax.

NSC Interest Rate Chart

See below.

NSC interest rate char




Posted by Silki Garg   @   23 May 2010 1 comments

1 Comments

Comments
Jan 10, 2011
3:13 pm
#1 sas :

hi

Leave a Comment

Previous Post
«
Next Post
»

Incoming search terms for the article:

nsc interest rate, nsc interest rate chart, nsc interest chart, nsc interest table, nsc rate chart, nsc interest rate chart 2010, nsc table, NSC chart, rate of interest on nsc, nsc rate of interest
de.pinque designed by Website Hosting  |  In conjunction with Video Hosting   |   VPS Hosting   |   Video Sharing Script