DEDUCTION OF NSC IN CASE OF JOINT ACCOUNT

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  1. Rajeev khulvey

    Rajeev khulvey New Member

    A EMPLOYEE TAKE A NSC AMOUNT 10000 IN JOINT NAME.
    FIRST -HIS WIFE
    2 AND SECOND SELF. CAN HE GET DEDUCTION OF 10000 IN 80 C OR
    PARTLY(5000)
    SOME EXPERTS TOLD ME THAT DEDUCTION OF NSC IN CASE JOINT ACCOUNT ONLY FIRST NAME HOLDER CAN GET DEDUCTION.
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Legally, you both can take the deduction.

    But there are some practical difficulties in taking deduction in joint name and therefore people usually take the deduction in the first name only.
     
    Rajeev khulvey likes this.
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