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Senior citizen saving scheme

Joshua Dsouza (152 Points)

11 November 2021

Whether post office senior citizen saving scheme interest taxable in income tax????

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CA Aakarsh Jain (CA) (10344 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)

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 11 November 2021

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