Deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 March 2015 Please suggest me short term investment upto 5 year for tax saving of a senior citigen (more then 60 year age) for Ay 2015-16

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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11 March 2015 Senior Citizen Savings Scheme 2004 (SCSS): A recent addition to section 80C list, Senior Citizen Savings Scheme (SCSS) is the most lucrative scheme among all the small savings schemes but is meant only for senior citizens. Current rate of interest is 9.20% per annum payable quarterly. Please note that the interest is payable quarterly instead of compounded quarterly. Thus, unclaimed interest on these deposits won’t earn any further interest. Interest income is chargeable to tax. The account may be opened by an individual,
Who has attained age of 60 years or above on the date of opening of the account.
Who has attained the age 55 years or more but less than 60 years and has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account within three months from the date of retirement.
No age limit for the retired personnel of Defence services provided they fulfill other specified conditions.

many other like nsc,lic,bonds from markets

Querist : Anonymous

Querist : Anonymous (Querist)

11 March 2015 can super senior citizen invest in this scheem..??
And can i invest in 5yr Fd or post office deposite..??

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