The National Savings Certificate (NSC) is a fixed-income investment option. In India, it is a popular savings product.. The NSC plan is a project of the Indian government. As a result, it guarantees profits. Investors with low and moderate incomes are encouraged to save with this savings bond. Most importantly, NSC also offers tax deductions.
NSC investments up to 1.5 lakhs are tax-free under Section 80C of the Income Tax Act. They are locked in for 5 years in case of NSC VIII issue and 10 years in case of IX issue. NSC certificates earn a fixed rate of interest. The current rate of interest is 6.8%. NSC, like other fixed-income vehicles like PPF and Post Office FDs, is a risk-free investment. A minimum deposit of Rs 1000 is required and the individual can choose to invest in multiples of 100 as per the need.
What is an NSC calculator and how does it help me?
You can enter the NSC type, the period in which NSC was purchased and the amount of investment in the NSC calculator 2022. The tool will calculate the total interest accrued in the particular FY and deduction will be allowed of the same under Section 80C.
How does the NSC calculator work?
The calculator takes input from the user and calculates the amount of interest, the deduction under 80C for the investment made in NSC.
How to use the tax2win NSC calculator?
To use tax2win’s NSC calculator, enter the following information:
- Financial year
- NSC type
- Period unit
- Investment amount
You will get the interest amount and Deduction under Section 80C amount on your screen.
What are the benefits of using the NSC Tax Calculator?
Calculating the interest amount manually can be time-consuming. With the help of this NSC calculator by tax2win, you can easily calculate your interest and keep a check on your finances.
Eligibility Criteria for Using NSC Tax Calculator
- This is easy and safe to use
- You won’t be needing any additional tool to calculate your interest on the NSC
- It is free and can be accessed on any device, be it PC or mobile of your choice.
For using tax2win’s NSC tax calculator, you must have an NSC investment so that you can enter the relevant details in the segments given in the tool.