Are NRIs eligible for NSC investments and tax breaks?
Non-Resident Indians (NRIs) are not permitted to open new National Savings Certificate (NSC) accounts or buy new certificates, which restricts their ability to utilize the scheme's tax advantages. If an NRI purchased NSCs while they were still a resident of India, they are allowed to keep those holdings until they reach maturity, though they cannot renew them once that period ends. Currently, the NSC provides an annual interest rate of 7.7% for the July-September quarter and remains eligible for tax deductions under Section 80C for resident Indians.
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