Mr. X has invested ₹ 1,00,000 in NSC during the year 2019-20. He has invested in NSC earlier also which will mature in two years’ time. The interest accrued on the previous investments during the year was ₹ 12,000. Assuming, no other investment, his deduction u/s 80C will be:
A. ₹ 1,00,000
B. ₹ 1,12,000
C. ₹ 88,000
D. Nil
Answer:B
Mr. X has invested ₹ 1,00,000 in NSC during the year 2019-20. He has invested in NSC earlier also which will mature in two years’ time. The interest accrued on the previous investments during the year was ₹ 12,000. Assuming, no other investment, his deduction u/s 80C will be:
A. ₹ 1,00,000 B. ₹ 1,12,000 C. ₹ 88,000 D. Nil