Beruflich Dokumente
Kultur Dokumente
Presented By Vivek Kumar dwivedi Roll No. 11/146 PGDM 2nd Year
Salient features
NSC VIII Issue (5 years)- Interest rate of 8.6% per annum. (w.e.f. 01-04-2012) NSC IX Issue (10 years)- Interest rate of 8.9% per annum. ( w.e.f. 01-04-2012)
Contd No tax deduction at source. Investment up to Rs 100000 /- pre annum qualifies for income tax rebate under NSC- section 80 c of IT Act. Certificate can be kept as collateral security to get loan from banks. Trust and HUF can not invest.
Advantage
The main advantage is that since NSCs are issued by government your investment are completely risk free and the high interest rate work well for any investor who wants safety.
Source:http://www.flame.org.in/KnowledgeC enter/WhatIsaNationalSavingsCertificate.aspx
Tax benefit
Interest accrued on the certificates every year liable to income tax but deemed to have been reinvested. Income tax rebate is available on the amount invested and interest accruing under section 88 of income tax Act, as amended from time to time.
The account can be open in Post offices, State Bank Of India or any other nationalised bank.
Salient features
Interest rate 8% per annum w.e.f. 01-04- 2012 Minimum deposit is 500/annum. Maximum Deposit is 10000/annum Scheme is for 15 years. Investment upto 100000/ annum qualifies for income tax rabate under section 80C of I-T act. Interest is completely tax free. Deposit can be made in lump sum or in 12 installment. One deposit with a minimum amount of Rs 500/- annum is mandatory in each financial year. Withdrawal is permissible from 6th financial year. Free from court attachment.
Contd
Loan facilities is available from 3rd financial year up to 5th financial year . The rate of interest charged on loan taken by the subscriber of a PPF account on or after 01-12-2011 shall be 2 % p.a.
Non resident Indian & HUF are not eligible for PPF
Ideal investment option for both salaried and self employed classes
Facility of premature closure of account after 1 year but on or before 3 years @ 2.00% discount. Deduction of 1% if account is closed prematurely at any time after three years. Suitable scheme for retired employees/ senior citizens and for those who need regular monthly income.