Important changes of Budget 2017, effective from 01st April 2017     Key Features of BUDGET 2017     Budget 2017 - Highlights     After liberal concessions by Centre, GST council inks breakthrough, new tax regime roll-out on July 1     I-T Dept to keep record of deposits over Rs 2 lakh     IT Department changes PAN rules for automobile sales above Rs 2 lakh     GST Council meet: 14% revenue growth assumed for states     Submit monthly data of appeals disposed of: CBDT to officers     GST: The ride just got better for logistics     Adoption of GST poised to boost India's medium-term growth: IMF     GST Network operating expenses to be funded by user fee     GST rate of 18% to have short-lived impact on inflation, says RBI     GST Council: Tax exemption threshold fixed at Rs 20 lakh     GST Council consensus emerging on April 1, 2017 rollout, Rs 25 lakh threshold     Recommended 7-year tax holiday for start-ups: Sitharaman     Centre may have to re-notify GST Constitutional Amendment Act; here’s why     Rules may be eased for banks and NBFCs under GST     GST bill now a law, President Pranab Mukherjee gives assent to the constitutional amendment bill     GST will unleash significant economic activity: Barack Obama     Due Dates for the Month of September 2017     RuPay debit cards to gain from small finance banks     Barring five all petroleum items under GST regime     Sebi relaxes restrictions on more than 200 entities      Important Amendments effective from 01.06.2016    

WELCOME TO SINGHAL AJAY & ASSOCIATES

 National Savings Certificates (NSC)

NSC VIII Issue
  • Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.
  • No maximum limit for investment.
  • No Tax deduction at source.
  • Certificates can be kept as collateral security to get loan from banks.
  • Trust and HUF cannot invest.

Buy National Savings Certificates (NSCs) every month for Five years – Re-invest on maturity and relax - On retirement it will fetch you monthly pension as the NSC matures.

  • A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
  • Deposits qualify for tax rebate under Sec. 80C of IT Act.
  • The interest accruing annually but deemed to be reinvested under Section 80C of IT Act.

*In case of NSC VIII and IX issue, transfer of certificates from one person to another can be done only once from date of issue to date of maturity.

*At the time of transfer of Certificates from one person to another, old certificates will not be discharged. Name of old holder shall be rounded and name of new holder shall be written on the old certificate and on the purchase application(in case of non CBS Post offices) under dated signatures of the authorized Postmaster along with his designation stamp and date stamp of Post office.

 

RATES/INTEREST

NSC VIII Issue

 

  • Rate of interest 8.0%.​
  • Maturity value of a certificate of INR.100/- purchased on or after 1.10.2016 shall be INR. 146.93 after 5 years.
  • Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 14​7.61 after 5 years.
  • Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.
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