13 years ago 13 years ago

What is national savings certificate?

by Score Tutorial 13 years ago13 years ago

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National Savings Certificate : Issued at the post offices, National Savings Certificate has the following features:

It comes in denominations of 100, 500, 1,000, 5,000 and 10,000.
It has a term of 6 years. Over this period Rs. 100 becomes Rs. 160.1. Hence the compound rate of return works out to 8.16 percent.
The investment in NSC can be deducted before computing the taxable income under Section 80 C.
It can be pledged as collateral for raising loans.

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What is national savings certificate?

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