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Tuesday, January 12, 2016

National Savings Scheme - NSS

 

National Savings Certificates (NSC) and National Savings Scheme (NSS)

 

Consistently, two of the most well followed and popular saving schemes in India, NSC and NSS offer great security alongside robust reliability in terms of returns. The primary features and benefits of these schemes are as follows-

Features of National Savings Certificates

  1. No maximum limit for investment with 0% tax deduction at source.
  2. Impressive interest rate at 8.50% (NSC-VIII issue) and 8.80% (NSC-IX issue).
  3. Tax savings per 80C of Income Tax Act for investments in excess of Rs.1,00,000 per annum.
  4. Very attractive returns, a nominal investment of Rs.100 will yield Rs.234.35 in 10 years.
  5. These certificates can be transferred from person to another once through the lifetime of the certificate.
  6. The tenure of an NSC portfolio is 5 and 10 years for the NSC VIII Issue and NSC IX Issue respectively.
  7. The interest accumulated annually is reinvested in line with the provisions of Section 80C of IT Act. Interest compounded on a half-yearly basis.
  8. Can be used as collateral when applying for a bank loan.

Features of National Savings Scheme

  1. Income tax exemption on principal amount as well as earned interest upto Rs.9,000.
  2. Interest compounded annually.
  3. Cannot be pledged as security when applying for any bank loan.
  4. Impressive interest rate of 9% per annum.
  5. The tenure of an NSS portfolio is four years.
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Invest Rs 150000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

There are a lot of mutual funds that customers can choose from but some of the best Tax Saver mutual funds in India right now are:

Top 10 Tax Saver Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan
It must be remembered that this list is not set in stone as improvement or reduction in performance of the mutual fund could change the position of these funds among the top 10 tax saving mutual funds in India.

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

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