Interest from Senior citizens
scheme of post office, is it exempt from income tax like PPf
Should we show in income
thanks
- Investments made in a Senior Citizen Savings Scheme account qualifies for Income Tax deduction under Section 80(C) of the Income Tax Act, 1961.
- Interest on SCSS is fully taxable. In case the interest amount earned is more than Rs 50,000 for a fiscal, Tax Deducted at Source (TDS) is applicable on the interest earned.
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