Senior Citizen Saving Scheme & Sec 80C

Abhinav Agarwal (M.Com C.A SAP Consultant)   (814 Points)

29 January 2009  

Hi All...

My querry is:

We can claim deduction u/s 80C for Senior Citizen Saving Scheme(SCSS). As per banking regulation Act, a person is a senior citizen who has crossed age of 60. However as per Income TAx Act it is 65. Now if a person, of age 61-64 invests in SCSS, whether he will be eligible for 80C.