National Savings Certificate 2023/nsc scheme in post office,Bank/NSC interest calculator/tax benefit

National Savings Certificate (NSC) is a tax saving investment with the aim to encourage small or medium savings backed by Central Government.
The NSC scheme is available at all Post Offices,Banks and promoted by the Indian Government. Since the scheme is backed by the Indian Government, the risk is considered to be very low.
The scheme is applicable only to Indian citizens and not applicable for Non-Resident Indian (NRI) and a HUF. Due to the income tax benefits, low minimum investments requirement and low risk, the national pension scheme is gaining popularity.
Types: The scheme originally had two types of certificates - NSC VIII Issue and NSC IX Issue. The government discontinued the NSC IX Issue in December 2015. So, only the NSC VIII Issue is open for subscription currently.
National Savings Certificates (NSC)
5 Years National Savings Certificate (VIII Issue)
Interest rate:
From 01.07.2023, interest rates are as follows:-
7.7 % compounded annually but payable at maturity.
Deposit amount:
Minimum of Rs. 1000/- and in multiples of Rs. 100/- No Maximum Limit
Who can open :-
(i) a single adult
(ii) Joint Account (up to 3 adults)
(iii) a guardian on behalf of minor or on behalf of person of unsound mind
(iv) a minor above 10 years in his own name.
(b) Deposit:-
(i) Minimum Rs. 1000 and in multiple of Rs. 100 , no maximum limit.
(ii) Any number of accounts can be opened under the scheme.
(iii) Deposits qualify for deduction under section 80C of Income Tax Act.
(c) Maturity:-
The deposit shall mature on completion of five years from the date of the deposit.
(d) Pledging of account:-
(i) NSC may be pledged or transferred as security, by submitting prescribed application form at concerned Post Office supported with acceptance letter from the pledgee.
(ii) Transfer/pledging can be made to the following authorities.
The President of India/Governor of the State.
RBI/Scheduled Bank/Co-operative Society/Co-operative Bank.
Corporation (public/private)/Govt. Company/Local Authority.
Housing finance company.
(e) Premature closure:-
NSC may not be prematurely closed before 5 years except the following conditions : -
(i) On the death of a single account, or any or all the account holders in a joint account
(ii) On forfeiture by a pledgee being a Gazetted officer.
(iii) On order by court.
(f) Transfer of account from one person to another person.:-
NSC may be transferred from one person to another person on the following conditions only.
(i) On the death of account holder to nominee/legal heirs.
(ii) On the death of account holder to joint holder(s).
(ii) On order by the court.
(iii) On pledging of account to the specified authority.
Tax saver: As a government-backed tax-saving scheme, you can claim up to Rs.1.5 lakh under the provisions of Section 80C of the Income Tax Act, 1961.
Queries solved in this video:
1)NSC scheme 2023
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4)NSC interest rate
5) NSC calculator
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[@ramaprasad8036]

Well explained. Expecting some more useful information. Thank YOU.

[@surendraseera2003]

Well explained ❤❤

[@gunturianuradha5995]

Very useful information. Clearly explained. Thank you.

[@ushakumar8588]

Good well explained

[@Harikrishna_alone]

5 lakhs 5 years invest cheste entha tax cut avuthundi brother

[@murmurrakesh9573]

Hai Bro , After 5 Years entha Intrest vaste tax cut chestaru.TjanQ

[@devipriyavooka790]

No tax cutting

[@bhaskarmurthy7153]

5th year interst entha recovery cheyunu

[@KumariSony-yj3dn]

Papaperumida 50,000 rs 2yearski mahila saman sbi lo fd chesam dat 9-9-2023to9-9-2025 mr dat total amount entavastundi

[@VDMtelugu]

50000+8011 = 58011

[@Sanath427]

Can i transfer my mom nsc to my account

[@johnan8001]

How much income tax for five years.

[@kamalkumarnandanavanam4352]

Tds is being collected.

[@Lakshmi_All_In_One]

Year ki okasari interest thesukovacha andi

[@sindhumodepalli2529]

Tesukokudadu antunnaru kadara malli tesukovacha antunnav mentalga

[@sriramasarma9711]

Any senior citizen extra int

[@kudimagajendran2623]

Asallu e intrest yanti bro mosam chasa vedhanam edhe