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SCSS & 80TTB
Is interest earned up to 50k on SCSS (senior citizen savings scheme) qualifies for 80TTB tax benefit
Replies (2)
It avails for
- Interest on bank deposits (savings or fixed);
- Interest on deposits held in a co-operative society engaged in the business of banking, including a co-operative land mortgage bank or a co-operative land development bank; or
- Interest on post office deposits
interest on scss is fully taxable & TDS applicable if total interest exceeds 10000 if your income is below taxable limit u should provide form 15g or 15 h to avoid tds
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