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The Tax Publishers National Savings Certificates VIII Issue (NSCs) 1. Duration Term of deposit is 5 years. 2. Who can invest (1) The following types of accounts can be opened under the Scheme, namely : -- (a) Single Holder Type Account; (b) Joint A- Type Account; and (c) Joint B - Type Account. (2) (a) A Single Holder Type Account may be opened by an adult for himself, or on behalf of a minor or a person of unsound mind of whom he is the guardian; or by a minor who has attained the age of ten years; (b) Joint A Type Account may be opened jointly in the names of upto three adults payable to all the holders jointly or to the survivor or survivors; (c) Joint B Type Account may be opened jointly in the name of upto three adults payable to any of the account holders or to the survivor or survivors. An individual may open any number of accounts. 3. Limits of investment Minimum amount to be invested is Rs. 100 and there is no maximum limit. Deduction under section 80C will be allowed out of gross total income upto a maximum of Rs. 1,50,000. Certificates are available in the denominations of Rs. 100; 500; 1,000; 5,000 and 10,000. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

National Savings Certificates VIII Issue (NSCs)

1. Duration

Term of deposit is 5 years.

2. Who can invest

(1) The following types of accounts can be opened under the Scheme, namely : --

(a) Single Holder Type Account;

(b) Joint A- Type Account; and

(2) (a) A Single Holder Type Account may be opened by an adult for himself, or on behalf of a minor or a person of unsound mind of whom he is the guardian; or by a minor who has attained the age of ten years;

(b) Joint A Type Account may be opened jointly in the names of upto three adults payable to all the holders jointly or to the survivor or survivors;

(c) Joint B Type Account may be opened jointly in the name of upto three adults payable to any of the account holders or to the survivor or survivors.

An individual may open any number of accounts.

3. Limits of investment

Minimum amount to be invested is Rs. 100 and there is no maximum limit. Deduction under section 80C will be allowed out of gross total income upto a maximum of Rs. 1,50,000. Certificates are available in the denominations of Rs. 100; 500; 1,000; 5,000 and 10,000.