Senior Citizens Savings Scheme

5 Last-Minute Income Tax Saving Instruments

Income Tax - By now, you might have already submitted investment proofs to your company’s finance department to claim a tax deduction. However, if you have been running behind date, here are some useful tips to save your hard-earned money and taxes before the D-day. ...

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Falling interest rates and plight of senior citizens

Income Tax - Before the previous last RBI meet,  there was an increased expectation of rate cuts by RBI as a measure of providing impetus to the economy after a demonstration.  That RBI maintaining status quo on repo rates at 6.25% is a negative thing for most people but senior citizens in India. Citing increased liquidity available and […]...

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Top 5 Smart Tax Saving Options

Income Tax - As the end of financial year draws near, many of my friends who were least bothered about tax saving investments throughout the year, have started hunting down options to park their surplus funds and consequently save up on taxes....

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All about Senior Citizens Savings Scheme, 2004

Income Tax - As name itself suggests, this scheme is only for the senior citizens. The account may be opened by an individual, who has attained age of 60 years or above on the date of opening of the account. The account may also be opened by those who has attained the age 55 years or more but less than 60 years and has retired under a Voluntary Retire...

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Let your Investments Evolve With Your Life

Income Tax - As we progress in life, our goals and milestones are modified. Not only have we changed the way we live but we also change our perception of the future. Our life’s goals include factors such as travelling, medical benefits, financial independence and zero liabilities. ...

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Interest rate cut by 0.10% on KVP, PPF, SCSS 2004 & Sukanya Samriddhi

Income Tax - The interest rates of Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme, 2004 (SCSS 2004), and Sukanya Samriddhi Account (the Girl Child Scheme) were reduced by 0.10 percentage point for the quarter 01.10.2016 to 31.12.2016, and not 0.10 percentage per annum....

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Senior Citizen Savings Schemes – Taxation and Status

Income Tax - Senior Citizen Savings Schemes deposits are eligible for deduction under section 80C of Income Tax Act but interest earned on deposit is taxable....

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Interest Rates on Small Savings Schemes w.e.f. 01.07.2016 to 30.9.2016

Income Tax - On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under: ...

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Interest Rates on Post office Saving Account, Deposit, RD, SCSS, MIS, NSC and PPF to increase soon

Income Tax - Interest Rates on Small Savings Instruments (i) The rate of interest paid under Post Office Savings Account (POSA) will be increased from 3.5% to 4% p.a. (ii) The rate of interest on small savings schemes will be aligned with G-Sec rates of similar maturity, with a spread of 25 basis points (bps) with two excep...

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Higher Rate of Interest under Senior Citizens Saving Scheme

Income Tax - The Senior Citizens Savings Scheme, 2004 (SCSS), was designed to meet the need of a regular flow of income for the senior citizens and retired persons with security of investment, liquidity of funds and operation convenience. Keeping in view of the above, higher rate of interest at 9 percent per annum is offered to all senior citizens und...

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Interest rates for Small Savings Schemes for Q4 of FY 2016-17

RBI/2016-17/225 DGBA.GAD.2012/15.02.005/2016-17 - (09/02/2017) - The Government of India, had vide their Office Memorandum (OM) No.F.No.1/04/2016–NS.II dated December 30, 2016 advised the rate of interest on various small savings schemes for the fourth quarter of the financial year 2016-17 (copy enclosed)....

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Interest rate of PPF, SCSC, Sukanya Samridhi, NSC wef 01.01.2017

F.No. 1/04/2016-NS.II - (30/12/2016) - interest on various small savings schemes for the fourth quarter of financial year 2016-17 starting on 1st January, 2017 and ending on 31st March,2017,...

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Interest rates on Small Savings Schemes for Oct,16 to -Dec,16

F.No. 1/04/2016-NS.II - (29/09/2016) - On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly. the rates of interest on various small savings schemes for the third quarter of financial year 2016-17 starting on 1st October, 2016 and ending on 31st Decemb...

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Interest rate on Senior Citizens Savings Scheme from 01.04.2015

G.S.R. 592(E) - (27/07/2015) - In the Senior Citizen Savings Scheme Rules, 2004, in rule 7, in sub-rule (1), after the third provisio, following proviso shall be inserted, namely:—Provided also that in the case of a deposit made under these rules on or after the 1st day of April, 2015, it shall bear at the rate of 9.3 per cent....

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PPF Interest Rate increased to 8.80% p.a. 5 year SCSS, 2004 to 9.3% p.a.

RBI/2011-12/483 DGBA.CDD. No. H- 6506 /15.02.001/2011-12 - (03/04/2012) - RBI Circular No. DGBA.CDD. No. H- 6506 The Government of India have vide their Office Memorandum (OM) No. 6-1/2011-NS.II (Pt.) dated March 26, 2012, advised the rate of interest on various small savings schemes for the financial year 2012-13. Accordingly, the rates of interest on PPF, 1968 and SCSS...

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Recent Posts in "Senior Citizens Savings Scheme"

5 Last-Minute Income Tax Saving Instruments

By now, you might have already submitted investment proofs to your company’s finance department to claim a tax deduction. However, if you have been running behind date, here are some useful tips to save your hard-earned money and taxes before the D-day. ...

Read More

Interest rates for Small Savings Schemes for Q4 of FY 2016-17

RBI/2016-17/225 DGBA.GAD.2012/15.02.005/2016-17 (09/02/2017)

The Government of India, had vide their Office Memorandum (OM) No.F.No.1/04/2016–NS.II dated December 30, 2016 advised the rate of interest on various small savings schemes for the fourth quarter of the financial year 2016-17 (copy enclosed)....

Read More

Interest rate of PPF, SCSC, Sukanya Samridhi, NSC wef 01.01.2017

F.No. 1/04/2016-NS.II (30/12/2016)

interest on various small savings schemes for the fourth quarter of financial year 2016-17 starting on 1st January, 2017 and ending on 31st March,2017,...

Read More

Falling interest rates and plight of senior citizens

Before the previous last RBI meet,  there was an increased expectation of rate cuts by RBI as a measure of providing impetus to the economy after a demonstration.  That RBI maintaining status quo on repo rates at 6.25% is a negative thing for most people but senior citizens in India. Citing increased liquidity available and […]...

Read More
Posted Under: Fema / RBI |

Interest rate cut by 0.10% on KVP, PPF, SCSS 2004 & Sukanya Samriddhi

The interest rates of Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme, 2004 (SCSS 2004), and Sukanya Samriddhi Account (the Girl Child Scheme) were reduced by 0.10 percentage point for the quarter 01.10.2016 to 31.12.2016, and not 0.10 percentage per annum....

Read More
Posted Under: Fema / RBI |

Senior Citizen Savings Schemes – Taxation and Status

Senior Citizen Savings Schemes deposits are eligible for deduction under section 80C of Income Tax Act but interest earned on deposit is taxable....

Read More
Posted Under: Fema / RBI |

Interest rates on Small Savings Schemes for Oct,16 to -Dec,16

F.No. 1/04/2016-NS.II (29/09/2016)

On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly. the rates of interest on various small savings schemes for the third quarter of financial year 2016-17 starting on 1st October, 2016 and ending on 31st December, 2016...

Read More

Interest Rates on Small Savings Schemes w.e.f. 01.07.2016 to 30.9.2016

On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under: ...

Read More
Posted Under: Fema / RBI |

Top 5 Smart Tax Saving Options

As the end of financial year draws near, many of my friends who were least bothered about tax saving investments throughout the year, have started hunting down options to park their surplus funds and consequently save up on taxes....

Read More
Posted Under: Fema / RBI | ,

Interest rate on Senior Citizens Savings Scheme from 01.04.2015

G.S.R. 592(E) (27/07/2015)

In the Senior Citizen Savings Scheme Rules, 2004, in rule 7, in sub-rule (1), after the third provisio, following proviso shall be inserted, namely:—Provided also that in the case of a deposit made under these rules on or after the 1st day of April, 2015, it shall bear at the rate of 9.3 per cent. per annum from the date of deposit....

Read More
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