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of <h1>Claim Deductions for National Savings Certificates u/s 80C of Income-tax Act, 1961: Individuals, HUFs, and AOPs Eligible.</h1> Under section 80C of the Income-tax Act, 1961, individuals, Hindu undivided families, or associations of persons can claim deductions for contributions to National Savings Certificates VI and VII Issues, effective from April 2, 1983. The deduction can be claimed by the person who contributed from their taxable income, including in joint holdings if the first named person has contributed. Interest accrued on these certificates is taxable in the hands of the contributor. Reinvested interest on these certificates also qualifies for deductions. A Hindu undivided family can claim deductions if the certificates are purchased in the name of a family member with the family's taxable income.
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