Interest from Senior citizens
scheme of post office, is it exempt from income tax like PPf
Should we show in income
thanks
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interest of Senior citizens scheme of post off
Replies (2)
- Investments made in a Senior Citizen Savings Scheme account qualifies for Income Tax deduction under Section 80(C) of the Income Tax Act, 1961.
- Interest on SCSS is fully taxable. In case the interest amount earned is more than Rs 50,000 for a fiscal, Tax Deducted at Source (TDS) is applicable on the interest earned.
interest on SCSS in not tax free like PPF interest.
Mush show interest income on SCSS under Income from other sources .
Mush show interest income on SCSS under Income from other sources .
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