Rates of NSC Interests




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Old 10-20-2008, 04:09 AM
mahendrafuria's Avatar
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Location: Mumbai
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Default Rates of NSC Interests

Hi All

I have a doubt on NSC interest deductible for income tax purpose.
If the NSCs are in own name then full deductions are available and if the NSCs are in dependents' name than only 8% deductions are available.

is it true? if yes can yoiu pls provide related documents/sections.
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Mahendra Furia
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