Webb22 dec. 2024 · Here is an overview table with different characteristics of the Post Office schemes that offer tax benefits-. Parameters. Sukanya Samriddhi Yojana (SSY) Senior Citizens Savings Scheme (SCSS) Public Provident Fund (PPF) Post Office Recurring Deposit (RD) Post Office Savings Account. Current Interest Rate. 7.6%. Webb1 dec. 2024 · The refundable is displayed when these data are entered into the site. After the Income Tax officer sanctions the TDS return, it might take many months to return the …

Senior Citizens Saving Scheme

WebbSCSS Tax Benefits: As a senior citizen, you are qualified to get a tax exemption of up to Rs 1.5 lakh in a year under Section 80C of the Income Tax Act, 1961. The interest payments … WebbThe SCSS account holder can get a Tax deduction of up to Rs. 1.5 lakh under Section 80C Income Tax Act. NRIs (non-residents of India) are not eligible for this scheme. The SCSS … epm financial systems

Post Office Senior Citizen Saving Scheme (SCSS) Interest Rates

Webbför 23 timmar sedan · Firstly, pension funds offer tax benefits under Section 80C of the Income Tax Act, which allows investors to claim a deduction of up to Rs 1.5 lakh on their … WebbInvestments made in SCSS do qualify for income tax deduction benefits under Section 80C of Income Tax Act, 1961. Can you open an SCSS account with SBI Bank? Yes, any senior … WebbSection 80C of the Income Tax Act of India is a clause that points to various expenditures and investments that are exempted from Income Tax. It allows for a maximum deduction of up to Rs.1.5 lakh every year from an investor’s total taxable income. Section 80C is applicable only for individual taxpayers and Hindu Undivided Families. epm formation