Question on some of the Savings Schemes for Senior Citizens and under what head these need to be reported while filing Return:
PMVVY: As this a Pension Scheme by definition - can this be reported by a Retired Person as Income from Salary and claim the 50K Standard Deduction?
SCSS: Should this reported as Income from Salary or is this treated more like Bank Interest?
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Is PMVVY Income treated as Income from Salary?
Replies (1)
Every pension need not be necessarily be a salary income. pmvvy receipts will go in ifos.
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