NSC/Income Tax Calculation query

[PolicyWala]

Thanks for reply , ok my taxable amount is zero after purchasing Nsc, as NSC is for 6 years then in next year will i get tax benefit from this nsc if yes then how pls explain


Amar

Maturity period for NSC is 6 years that you can encash it after 6 years.

For tax deductions under sec 80C, you need to deposit money in PPF, NSE, Life Insurance, ELSS etc in that financial year again.

[amartlk]

Maturity period for NSC is 6 years that you can encash it after 6 years.
For tax deductions under sec 80C, you need to deposit money in PPF, NSE, Life Insurance, ELSS etc in that financial year again.

ok, means from 35000 nsc only i get one time tax benefit not every year upto maturity of that nsc?? is it correct

[PolicyWala]

ok, means from 35000 nsc only i get one time tax benefit not every year upto maturity of that nsc? Is it correct

You are correct.