1.5 lac deduction and 50000 exemption against deposit both taken

Yes, u/s. 80C  &  80TTB of IT act, respectively.

Originally posted by : Toufiq Qureshi
	Yes, u/s. 80C  &  80TTB of IT act, respectively.

so a senior citizen (For AY2020-21)with only FD interest income say Rs 7 lakhs will pay no tax ? with a Rs 1.5 lakh SCSS deposit at post office (for 80c deduction ) + Rs 50,000 deduction for FD+SB interest income (under 80TTb )

And if husband and wife are both Sr Citizens above age 60, they can open two SCSS Accounts Rs 15 Lakhs each, total Rs 30 Lakhs.

Joint SCSS Account 1: Husband primary account holder, wife secondary

Joint SCSS Account 2: Wife primary account holder, husband secondary

For Senior citizen the deduction available are 

Under 80C             Rs.150000 (investment in PPF, Mutula Fund TAx Savings Schemes, NSCs,etc.)

Under 80 TTB        Rs.   50000  ( deduction out of interest income from Fixed Deposit and Savings deposit with Bank)

Originally posted by : Kapadia Pravin
	You can open SCSS Account with Bank also

Great ! AY2019-20 is finished & got FD interest refund as well . (income just below 5 lakhs)

For AY2020-21 projected income will be say Rs 6.5 lakhs. So if we open Rs 1.5 lakh "Senior Citizren Saving Scheme" 5yr Deposit in bank befor March 2020 , will it show in 26AS or we have to upload deposit  documents for 80c deduction?( to get the 1.5 lakh 80C deduction in income?)