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FAQs

Small Saving Schemes - Will the rebate in income tax under Section 88 be available to husband/father where the NSCs (VIII-Issue) are purchased by him out of his income in the name of his wife/minor children?

Rebate under section 88 will be available to husband/ father were NSC (VIII-Issue) are purchased by him out of his income in the name of his wife/minor children however, father/husband cannot claim rebate under section 88 of the ITA where the investment in NSC-VIII is made out of the income of wife/minor child.