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Options
-
National Savings Certificate
Correct answer
- B
Kisan Vikas Patra
- C
Post Office Time Deposit
- D
All of the above
Why this is the answer
Investment in the National Savings Certificate (NSC VIII issue) qualifies for deduction under Section 80C of the Income Tax Act, 1961. Although the interest accrued on NSC is taxable, it is deemed to be reinvested and therefore also qualifies for deduction under Section 80C, whereas interest earned on Kisan Vikas Patra and Post Office Time Deposits is fully taxable and does not provide any tax benefit.
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