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How to save tax by investing in National Savings Certificate (NSC)?

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Best Performing Mutual Funds

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      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
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      1. ICICI Prudential Dynamic Plan
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      2. HDFC Taxsaver
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      4. Reliance Tax Saver (ELSS) Fund
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Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1.      ICICI Prudential Tax Plan  Invest Online

2.      HDFC TaxSaver   Invest Online

3.      DSP BlackRock Tax Saver Fund   Invest Online

4.      Birla Sun Life Tax Relief '96 Invest Online

5.      Reliance Tax Saver (ELSS) Fund   Invest Online

6.      IDFC Tax Advantage (ELSS) Fund  Invest Online

7.      SBI Magnum Tax Gain Scheme 1993   Invest Online

8.      Sundaram Tax Saver   Invest Online



NSC is a good medium term investment option. An advantage of the NSC is that it can be pledged as security against a loan to banks/ government institutions.

The minimum investment starts from Rs 100 and there is no maximum limit for the investment in a year.

 

Return (p.a.)

8.0% compounded half-yearly, i.e., the effective annual rate of interest is 8.16%.

Risk

NIL

Lock In

6 years

Income from Investment

·         Interest accrued every year is liable to tax (i.e., to be included in your taxable income).

·         However, interest is also deemed to be reinvested and thus eligible for section 80C deduction.

Maturity Proceeds

It includes interest which is already taxed

NRI/PIO eligible

No

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