nsc

Deduction under section 80C and Tax Planning

Finance - Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 80C has become effective w.e.f. 1st April, 2006. Even the section 80CCC on pension scheme contributions was merged with the above 80C. However, this new section has allowed a major change in the method of prov...

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8 Income Tax Saving Schemes with Good Returns & Tax Benefits

Finance - Article discusses Rate of Interest, Limit of Investment and Income Tax Benefit from Investment in 8 Most Popular Tax Saving Instruments in India i.e.  1,2,3 and 5 year Time Deposit, 5 Year National Savings Certificates VIII Issue (NSC), 5 Year Post office Recurring Deposit(RD), 15 year Public Provident Fund (PPF), Post office Saving  Ba...

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All about NSC and Tax Benefit

Finance - Deposits up to Rs.1.50 lakh in National Savings Certificate (NSC) qualify for Deduction Section 80C of the Income Tax Act. Accrued interest on NSC also qualify for deduction u/s. for first five years. NSC interest is taxable. ...

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All about PPF and Income tax benefit

Finance - The Public Provident Fund is the darling of all tax saving investments. You invest in it and you get a deduction on your income. Besides, the interest you earn on it is tax-free. Since it is a scheme run by the Government of India, it is also totally safe. ...

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Section 80C deduction on Joint Holding of National Saving Certificate

Finance - Sec 80C of Income Tax Act, 1961 allows deductions on National Saving Certificate Investment Maximum Limit allowed is Rs 150000/- per Financial Year...

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Rate of interest w.e.f. 01.01.2018 to 31.03.2018 on small savings schemes

Finance - The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:...

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Reduction of 0.1% in interest rates on Small Saving schemes

Finance - Government has decided to effect a reduction of 0.1 percentage points in interest rates across the board in all Small Savings Schemes except the Post Office Savings Account, which has been left untouched....

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Interest Rates on Small Savings Schemes w.e.f. 01.07.2016 to 30.9.2016

Finance - On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under: ...

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Revised interest rate of PPF, SCSC, Sukanya Samridhi,NSC

Finance - Central Government has notified revised Interest Rate for the perios from 01.04.2016 to 30.03.2016 on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme and NSC etc. Rates on all schemes been reduced significantly in comparison to existing rate....

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Rate of Interest WEF 01.04.2015 on NSC, PPF, KVP, Sukanya Samriddhi A/c

Finance - Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015 Government Announces Interest Rates for Various Small Savings Schemes; Rates to Come Into Force with Effect from Tomorrow          It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities ...

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Revised Small Savings Scheme interest rates w.e.f. 01.10.2020

F.No.1/4/2019-NS - (30/09/2020) - The rates of interest on various Small Savings Schemes for the third quarter of financial year 2020-21 starting from 1st October, 2020 and ending on 31st December, 2020 shall remain unchanged from those notified for the second quarter (1st July, 2020 to 3oth September, 2020) of financial year 2020-2...

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Revised Small Savings Scheme interest rates w.e.f. 01.07.2020

SB Order 24/2020 - (01/07/2020) - Rate of interest w.e.f 01.07.2020 to 30.09.2020 on Small Savings Scheme i.e. Post Office Savings Account, 1,2,3,5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate (VIII Issue), Public Provident Fund Scheme, Kisan ...

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TDS on interest on Post Office Saving Schemes reduced

S.B. Order 23/2020 - (26/06/2020) - In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic. the rates of Tax Deduction at Source (TDS) for the following non-salaried specified payments made to residents has been reduced by 25% for the period from 14th Ma...

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National Savings Certificates (VIII Issue) (Amendment) Scheme, 2020 – Maturity Value notified

Notification No. G.S.R. 284(E) - (05/05/2020) - National Savings Certificates (VIII Issue) (Amendment) Scheme, 2020- The maturity value of an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) with one thousand rupees shall be one thousand four hundred sixty two rupees and fifty four paisa and proportionate for d...

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Massive interest rate cut on Small Savings PPF/ SSA/ NSC/KVP/SCSS

F. No. 1/4/2019-NS - (31/03/2020) - Government has declared Rate of Interest on Small saving for the Quarter of April 2020 to June 2020 with Massive cut in in interest Rate ranging from 0.70 to 1.40 % per annum. For example rate of interest on PPF been reduced by 70 basis points to 7.1% per annum and same on Sukanya Samriddhi [&hellip...

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Recent Posts in "nsc"

Revised Small Savings Scheme interest rates w.e.f. 01.10.2020

F.No.1/4/2019-NS (30/09/2020)

The rates of interest on various Small Savings Schemes for the third quarter of financial year 2020-21 starting from 1st October, 2020 and ending on 31st December, 2020 shall remain unchanged from those notified for the second quarter (1st July, 2020 to 3oth September, 2020) of financial year 2020-21....

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Revised Small Savings Scheme interest rates w.e.f. 01.07.2020

SB Order 24/2020 (01/07/2020)

Rate of interest w.e.f 01.07.2020 to 30.09.2020 on Small Savings Scheme i.e. Post Office Savings Account, 1,2,3,5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate (VIII Issue), Public Provident Fund Scheme, Kisan Vikas Patra and Sukanya Samriddhi Accoun...

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TDS on interest on Post Office Saving Schemes reduced

S.B. Order 23/2020 (26/06/2020)

In order to provide more funds at the disposal of the taxpayers for dealing with the economic situation arising out of COVID-19 pandemic. the rates of Tax Deduction at Source (TDS) for the following non-salaried specified payments made to residents has been reduced by 25% for the period from 14th May, 2020 to 31st March, 2021....

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National Savings Certificates (VIII Issue) (Amendment) Scheme, 2020 – Maturity Value notified

Notification No. G.S.R. 284(E) (05/05/2020)

National Savings Certificates (VIII Issue) (Amendment) Scheme, 2020- The maturity value of an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) with one thousand rupees shall be one thousand four hundred sixty two rupees and fifty four paisa and proportionate for deposits made with any other sum as per s...

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Massive interest rate cut on Small Savings PPF/ SSA/ NSC/KVP/SCSS

F. No. 1/4/2019-NS (31/03/2020)

Government has declared Rate of Interest on Small saving for the Quarter of April 2020 to June 2020 with Massive cut in in interest Rate ranging from 0.70 to 1.40 % per annum. For example rate of interest on PPF been reduced by 70 basis points to 7.1% per annum and same on Sukanya Samriddhi […]...

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NSC/NSC-VIII – Amendments to procedural rules

S.B. Order No. 04/2020 (14/02/2020)

MoF(DEA) has revised many statutory rules relating to different National Savings Schemes which were circulated vide SB order 13/2019 dated 18.12.2019. The competent authority has now approved to change relevant procedural rules and issue corrections slips of POSB(CBS) Manual [circulated vide SB Order No.9/2018 dated 17.7.2018j....

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Deduction under section 80C and Tax Planning

Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 80C has become effective w.e.f. 1st April, 2006. Even the section 80CCC on pension scheme contributions was merged with the above 80C. However, this new section has allowed a major change in the method of prov...

Read More
Posted Under: Finance | ,

8 Income Tax Saving Schemes with Good Returns & Tax Benefits

Article discusses Rate of Interest, Limit of Investment and Income Tax Benefit from Investment in 8 Most Popular Tax Saving Instruments in India i.e.  1,2,3 and 5 year Time Deposit, 5 Year National Savings Certificates VIII Issue (NSC), 5 Year Post office Recurring Deposit(RD), 15 year Public Provident Fund (PPF), Post office Saving  Ba...

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Posted Under: Finance |

All about NSC and Tax Benefit

Deposits up to Rs.1.50 lakh in National Savings Certificate (NSC) qualify for Deduction Section 80C of the Income Tax Act. Accrued interest on NSC also qualify for deduction u/s. for first five years. NSC interest is taxable. ...

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National Savings Certificates (VIII Issue) Scheme, 2019

Notification No. G.S.R. 919(E) (12/12/2019)

On an application to accounts office in Form-1, following types of accounts can be opened under National Savings Certificates (VIII Issue) Scheme, 2019 namely- (a) Single Holder Type Account; (b) Joint A- Type Account; and (c) Joint B - Type Account....

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Govt withdraws rules related to PPF, NSC, NSS, Sukanya Samriddhi etc.- Issued New Rules

Notification No. G.S.R. 912(E) (12/12/2019)

Central Government rescinds rules, namely The Post Office Savings Account Rules, 1981, The National Savings Time Deposit Rules, 1981, National Savings Recurring Deposit Rules, 1981, National Savings (Monthly Income Account) Rules, 1987, National Savings Certificate (VIII Issue) Rules, 1989, Senior Citizens Savings Scheme Rules, 2004, Kisa...

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Interest rates of NSC, PPF, KVP, SSAS, SCSS for Q1 of FY 2019-20

rates of interest on various small savings schemes for the first quarter of financial year 2019-20 staring Ist April, 2019 and ending on 30th June, 2019 shall remain unchanged from those notified for the fourth quarter of financial year 2018-19....

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Small Savings Schemes Interest Rate for 01.01.2019 to 31.03.2019

F. No.01/0412016-NS (31/12/2018)

Rates of interest on various small savings schemes for the fourth quarter of financial year 2018-19 starting 1stJanuary, 2019, and ending on 31st March, 2019, on the basis of the interest compounding / payment built-in in the schemes,...

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Interest Rates of Small Savings Schemes hiked by 0.30 to 0.40 percent

F.No.01/04/2016-NS (19/09/2018)

Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19 On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, ...

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All about PPF and Income tax benefit

The Public Provident Fund is the darling of all tax saving investments. You invest in it and you get a deduction on your income. Besides, the interest you earn on it is tax-free. Since it is a scheme run by the Government of India, it is also totally safe. ...

Read More

Section 80C deduction on Joint Holding of National Saving Certificate

Sec 80C of Income Tax Act, 1961 allows deductions on National Saving Certificate Investment Maximum Limit allowed is Rs 150000/- per Financial Year...

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Posted Under: Finance |

Investments which qualifies for deduction u/s. 80C

Under this section, you can invest a maximum of Rs 1.50 lakh (1 Lakh upto AY 2014-15) and if you are in the highest tax bracket of 30%, you save a tax of Rs 45000. The various investment options under this section include:PPF; Life Insurance Premium, Equity Linked Savings Scheme (ELSS), Provident Fund (PF) & Voluntary Provident Fund (VPF)...

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Rate of interest w.e.f. 01.01.2018 to 31.03.2018 on small savings schemes

The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:...

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Posted Under: Finance |

National Savings Time Deposit (Amendment) Rules, 2017

Notification No. G.S.R. 1236 (E) (03/10/2017)

These rules may be called the National Savings Time Deposit (Amendment) Rules, 2017. They shall come into force on the date of their publication in the Official Gazette. In the National Savings Time Deposit Rules, 1981, in rule 5, in sub-rule (1), for the words two hundred, the words “one hundred” shall be substituted....

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National Savings (Monthly Income Account) Rules, 2017

Notification No. G.S.R. 1239(E) (03/10/2017)

In the National Savings (Monthly Income Account) Rules, 1987, in rule 5, in sub-rule 1, for the words one thousand five hundred, the words one hundred shall be substituted....

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NSC shall be deemed to be encashed on the day of attaining Non-Resident Status

Notification No. G.S.R. 1238(E) (03/10/2017)

Provided that if a resident Indian having purchased a certificate, subsequently becomes Non-Resident during the currency of the maturity period, the certificate shall be encashed or deemed to be encashed be encashed on the day he becomes a non-Resident, and ab interest shall be paid at the rate applicable to the Post Office Savings Accoun...

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Aadhaar mandatory for NSC; Existing depositors to updates by 31.12.2017

Notification No. G.S.R. 1244(E) (29/09/2017)

Aadhaar number shall be the unique identifier for the purpose of establishing the identity of National Savings Certificate (NSC) holder. Provided that where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrollment for Aadhaar....

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Reduction of 0.1% in interest rates on Small Saving schemes

Government has decided to effect a reduction of 0.1 percentage points in interest rates across the board in all Small Savings Schemes except the Post Office Savings Account, which has been left untouched....

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Posted Under: Finance |

Interest rate of PPF, SCSC, Sukanya Samridhi, NSC wef 01.01.2017

F.No. 1/04/2016-NS.II (30/12/2016)

interest on various small savings schemes for the fourth quarter of financial year 2016-17 starting on 1st January, 2017 and ending on 31st March,2017,...

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Interest Rates on Small Savings Schemes w.e.f. 01.07.2016 to 30.9.2016

On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under: ...

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Posted Under: Finance |

Interest rates on Small Savings Schemes for 01.07.16 to 30.09.16

F.No. 1/04/2016-NS .II (20/06/2016)

On the basis of the decisions of the Government, interest rates for small savings schemes are to be notified on quarterly Accordingly , the rates of interest on various small savings schemes for the second quarter of financial year 2016-17 , on the basis of the interest compounding/payment built-in in the schemes, shall be as under :...

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Pre-printed certificates for KVP & NSC discontinued wef 01.04.2016

F.No. 1/04/2016-NS.II (01/04/2016)

It was decided that the currently existing system of physical pre-printed certificates for KVP and NSC shall stand discontinued w.e.f. 1.4.2016 and shall be replaced by ‘National Savings Certificate/Kisan Vikas Patra Certificate on electronic – mode (e-mode) . Till the CBS system transits to that e-mode, banks and post offices may ch...

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NSC Maturity Period 5 Year wef 01.04.2016 & Interest Rate

Notification No. G.S.R. 354(E) (29/03/2016)

Where a certificate has been purchased on or after the 1st day of April, 2016 the maturity period of a certificate of any denomination, shall be five years, commencing from the date of issue of the certificate. The amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period sh...

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Revised interest rate of PPF, SCSC, Sukanya Samridhi,NSC

Central Government has notified revised Interest Rate for the perios from 01.04.2016 to 30.03.2016 on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme and NSC etc. Rates on all schemes been reduced significantly in comparison to existing rate....

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Posted Under: Finance | ,

Versatile Investment Avenue-NSC

This is taxing time of the year. All of us have to make good the shortfall in the investment required to be made for availing the tax benefits available for investments. Since the equity are very volatile and since the time left is very short a lump sum investment is not advisable in Equity Linked Saving Schemes. ...

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Interest rate For FY 2015-16 on PPF, KVP, Sukanya Samriddhi A/c and 5 year SCSS, 2004

RBI/2014-15/536 IDMD(DGBA).CDD.No.4521/15.02.001/2014-15 (01/04/2015)

The Government of India have vide their Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015, advised the rate of interest on various small savings schemes for the financial year 2015-16. Accordingly, the rates of interest on PPF 1968, SCSS 2004, Kisan Vikas Patra & Sukanya Samriddhi Account Scheme for the financial year 2015-16...

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Rate of Interest WEF 01.04.2015 on NSC, PPF, KVP, Sukanya Samriddhi A/c

Office Memorandum (OM) No.6/01/2011-NS.II dated March 31, 2015 Government Announces Interest Rates for Various Small Savings Schemes; Rates to Come Into Force with Effect from Tomorrow          It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities ...

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Posted Under: Finance |

Interest Rate on NSC MIS MIS SCSS POTD WEF 01.04.2013

Rate of interest on various small savings schemes for the financial year 2013-14 effective from 1-4-2013, on the basis of the interest compounding/payment built-in in the schemes, shall be as under :...

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Posted Under: Finance |

Small Savings to Fetch Better Returns

Based on the recommendations of Committee for Comprehensive Review of National Small Savings Fund, Central Government had recently issued two notifications on 25th and 29th November, 2011 which come into force from December 1,2011. The new savings regime offer better returns than ever and compared to other investments, offer adequate post...

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PPF Investment to be Raised to one Lakh, KVP discontinued, Increase in interest rate of PPF, NSC, MIS, POSA

Notification No. 6-1/2011-NS.II (Pt.) (11/11/2011)

The maturity period for Monthly Income Scheme (MIS) and National Savings Certificate (NSC) will be reduced from 6 years to 5 years.A new NSC instrument, with maturity period of 10 years, would be introduced. Kisan Vikas Patras (KVPs) will be discontinued.The annual ceiling on investment under Public Provident Fund (PPF) Scheme will be inc...

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Interest Rates on Post office Saving Account, Deposit, RD, SCSS, MIS, NSC and PPF to increase soon

Interest Rates on Small Savings Instruments (i) The rate of interest paid under Post Office Savings Account (POSA) will be increased from 3.5% to 4% p.a. (ii) The rate of interest on small savings schemes will be aligned with G-Sec rates of similar maturity, with a spread of 25 basis points (bps) with two excep...

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Banking – Report of the Committee on Comprehensive Review of National Small Savings Fund

The Committee, while conscious of the multiplicity of schemes, recognised that most of the schemes serve the thrift needs of various sections of the population, especially small savers. It has, therefore, recommended closure of only one existing scheme - the Kisan Vikas Patra (KVP) while recommending continuation of all other schemes with...

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Posted Under: Finance |

Recommendation for increasing annual deposit limit in PPF to Rs. 100000 from existing Rs. 70000

Committee for Comprehensive Review of NSSF Submits its Report to Union Finance Minister Recommends Discontinuation of Kisan Vikas Patra and Continuation of other Schemes with Suitable Modification(s); Recommends Reduction in the Maturity Period of Monthly Income Schemes and NSC. It also Recommends upward Revision of the Ceiling on Annual ...

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HUFs can not continue PPF after 15 years

Hindu undivided families (HUFs) will now have to mandatorily exit from the public provident fund (PPF) on completion of 15 years. The move is aimed at checking misuse as several people were investing in PPF to earn 8% tax-free return as an individual...

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Posted Under: Finance |

EET – The Future Model of Savings and Taxation

Savings are generally made from taxable income, which has already been subjected to tax provisions. There are certain savings which, if made enjoy exemption from taxation. Not only this, the income or returns arising from such savings or investments are also exempt from tax and when such savings are redeemed on maturity, they are not su...

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Tax saving habit–a change is required series-1

All we need to do is to bring some changes in our habits and do the tax planning for the financial year 2009-10 in advance. Moreover before one decides for tax saving one should look into the all the list of probable deductions under which one gets benefits of tax saving....

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Posted Under: Finance |

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