Download NSC Interest Calculator in Excel for deduction under section 80C of Income Tax Act, 1961. Interest earned on NSC purchased of last 5 years is taxable in hand of assesses and it laso deductable under section 80C up to limit of section ( currently 80 max. limit is 150000). Click here to download NSC Calculator in Excel.
What is NSC:
National Savings Certificate is a popular mode of small savings investment in India. The NSC rate of interest has been fixed by the government. The NSC (National Saving Certificate) Calculator allows you to calculate the return on your investment when saving using the National Savings Certificate Scheme.
The National Saving Certificate Scheme (NSC) is an excellent investment opportunity but there are some restrictions you should be aware of.
- The National Saving Certificate (NSC) scheme has a minimum investment threshold of ₹100.00
- National Saving Certificates are issued at a minimum of ₹100.00 certificates though you can also purchase ₹500.00, ₹1,000.00, ₹5,000.00, ₹10,000.00 denomination certificates.
- There is no limit on the number of National Saving Certificates that you can buy.
Type of NSC Certificates
There are 3 different types of National Savings Certificate
- Single holder Type Certificate: Issued to an individual (the holder) or to an individual on behalf of a minor.
- Joint A type Certificate: Issued jointly to two adults. On maturity, the NSC is paid to both of the joint holders
- Joint B type Certificate: Issued jointly to two adults in the same way as Joint A type NSC (see above) withe the difference that on maturity, the NSC is paid to one (either one) of the joint holders.