Senior citizen saving scheme
Joshua Dsouza (160 Points)
11 November 2021
Whether post office senior citizen saving scheme interest taxable in income tax????
2 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 11 November 2021
Tax Implications of Senior Citizen Savings Scheme (SCSS)
Interest on SCSS is taxable as per the tax slab applicable to the person. In case the interest amount earned is more than Rs. 50,000 for a fiscal, Tax Deducted at Source (TDS) is applicable to the interest earned.20-Sep-2021
Maximum Investment Amount: Rs. 15 Lakh or the amount received on retirement, wh...
Minimum Investment Amount: Rs. 1,000
Interest Rate: 7.40% per annum (Q2 FY 2021-22)
Interest on SCSS is taxable as per the tax slab applicable to the person. In case the interest amount earned is more than Rs. 50,000 for a fiscal, Tax Deducted at Source (TDS) is applicable to the interest earned.20-Sep-2021
Maximum Investment Amount: Rs. 15 Lakh or the amount received on retirement, wh...
Minimum Investment Amount: Rs. 1,000
Interest Rate: 7.40% per annum (Q2 FY 2021-22)
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