Taxability of Post office senior citizens deposit
This query is : Resolved
03 December 2025
A senior citizen has received Rs. 500,000 from interest on post office senior citizen deposit scheme. He wants to claim exemption on this interest income for 25-26. Can the experts tell if such interest income is exempt under the new regime.
03 December 2025
No, the interest income of Rs. 500,000 from the Post Office Senior Citizen Savings Scheme (SCSS) is not exempt under the new tax regime for FY 2025–26. It is fully taxable. However, senior citizens may still end up paying zero tax if their total income is within the rebate threshold of Rs. 12 lakh under Section 87A in the new regime.
Resident individuals (including senior citizens) with taxable income up to Rs. 12 lakh pay zero tax under Section 87A.
This means:
- If the senior citizen’s total income including SCSS interest is ≤ Rs. 12 lakh, they will not pay any tax.
Resident individuals (including senior citizens) with taxable income up to Rs. 12 lakh pay zero tax under Section 87A.
This means:
- If the senior citizen’s total income including SCSS interest is ≤ Rs. 12 lakh, they will not pay any tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- GST ON DAMAGED GOODS
- Taxation on LTCG for property sold after 24JUL2024
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
