#shorts #viral #scss #seniorcitizens
Senior Citizen Saving Scheme taxability
Senior citizen saving scheme(SCSS) can help you get a regular interest income post retirement. Find out whether taxable or not
Interest income from SCSS deposits is taxable as per the depositor’s tax slab
However, by depositing in SCSS, you can earn upto 50000 as taxfree interest income
If you earn more than 50000 as interest income, then TDS will be deducted on the amount exceeding this limit
Deposits upto 1.5 lakh in SCSS account can be claimed as deduction u/s 80C of the IT ACt
Currently, investors are allowed to deposit upto rs 30 lakh in their SCSS acc
An individual can have multiple accounts but the sum of deposits in all such accounts should not be more than 30 lakhs

свернуть