ELIGIBLE FOR DEDUCTION UNDER SECTION 80C SMALL SAVINGS SCHEMES: These include Public Provident Fund (PPF), National Savings Certificate
(NSC), Senior Citizen Savings Schemes (SCSS) and five-year post-office deposits.
A National Savings Certificate
with insurance cover will also be launched to provide additional benefits for the small saver.
The maturity period for Monthly Income Scheme (MIS) and National Savings Certificate
(NSC) has been reduced from 6 years to 5 years.
The Budget has also announced a National Savings Certificate
with insurance cover to provide additional benefit to small investors.
Q: I HAVE a National Savings Certificate
book that my grandfather started for me in 1966.
Under Section 80C of the Income Tax Act, one can claim deduction from taxable income if one invests in Public Provident Fund ( PPF), Employee Provident Fund ( EPF), National Savings Certificate
( NSC), insurance policies, tax-saving bank fixed deposits, Senior Citizen Savings Schemes, tax-saving mutual funds and to repay home loan principal.
Also, the interest earned on your investment in the National Savings Certificate
(NSC) is not exempt from tax, which brings down your effective rate of return.
The Patna police had last year arrested recovered fake stamp papers, National Savings Certificate
and other documents worth ` 5 crore from Gardanibag locality in Patna.
SMALL SAVING SCHEMES The rate of small saving schemes like PPF, Senior Citizens Saving Scheme and National Savings Certificates
are generally linked to government bond yields of the same tenure.
Watch out for the next issue of National Savings Certificates
done in March or April - but don't tell everyone
Perhaps we could stop the National Savings Certificates
FOR those investors used to the cheap and secure investments offered by National Savings & Investments (NS&I), sadly the announcement that NS&I have withdrawn access to the new issuing of National Savings certificates
, may leave investors feeling somewhat disappointed.