How is NSC accrued interest calculated?
How is NSC accrued interest calculated?
The amount invested up to Rs….Excel NSC Auto Accrued Interest Calculator and Table – NSC VIII and IX Issue.
| Period from the date of NSC to the date of encashment | Amount payable with interest |
|---|---|
| 3 Years or more but less than 3 Years and 6 Months | 124.24 |
| 3 Years and 6 months or more but less than 4 Years | 128.81 |
What is NSC accrued interest?
The interest that is accrued each year is accumulated in the account and then gets added to the original investment in the NSC account. This accumulated interest gets a tax rebate under section 80C of the Income Tax Act.
Do we get interest on NSC after maturity?
Maturity: If the NSC maturity proceeds are not withdrawn by an account holder, the scheme becomes available for post office savings scheme interest for 2 years.
What is NSC VIII issue and IX issue?
Introduced NSC (IX issue) with maturity period of 10 years and higher interest rate of 8.70% p.a. w.e.f. 01.12. 2011….Salient features of NSCs.
| Period | VIII Issue | IX Issue |
|---|---|---|
01.04
Which is the accrued interest rate for NSC?The table of interest for NSC is as under: NSC VIII Issue – Accrued Interest Rate per year on investment of Rs. 100/- From 1/04/2013 to 31.03 What is interest rate on NSC VIII issue?The maturity period of NSC VIII and IX issue is currently five year and 10 Year respectively and the rate of interest is 8.50% for NSC VII issue and 8.80% for NSC IX issue. The table of interest for NSC is as under: NSC VIII Issue – Accrued Interest Rate per year on investment of Rs. 100/- From 1/04/2013 to 31.03 Is there a tax deduction for interest on NSC? You can claim tax deduction up to Rs 1.5 lakh for investment in NSC under Section 80C. Additionally the interest accrued every year on NSC is also considered for tax exemption u/s 80C. The calculation is done taking interest rate of 8% and compounded annually. Is there a maximum amount that can be invested in NSC? There is NO maximum limit for investment in NSC. However the maximum tax exemption is Rs 1.5 Lakh u/s 80C. NSC can be purchased in multiples of Rs 100. There is NO TDS on NSC. The interest earned is taxed according to marginal income tax rates applicable to tax payer. |