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Tech Raja   24 September 2021

Is PMVVY Income treated as Income from Salary?

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?

 1 Replies

veerendar singh

veerendar singh (tax consultant)     24 September 2021

Every pension need not be necessarily be a salary income. pmvvy receipts will go in ifos.

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