Income Tax : Summary of exclusive tax benefits for resident senior citizens (60+ years) and super senior citizens (80+ years), including enhanc...
Income Tax : Introduction: The Senior Citizen Savings Scheme (SCSS) has undergone significant updates following the November 2023 notification ...
Finance : Discover key retirement planning options and strategies, from PPF to NPS. Explore government schemes, mutual funds, bank deposits,...
Income Tax : बुढ़ापा एक सामान्य मानवीय प्रक्रिया है जो मानव ज...
Finance : It’s that time of the year when you need to invest in different investment products to enable tax savings for FY 2021-22 OR else...
Finance : Stay informed about recent updates in small saving schemes post-retirement, including rules for opening accounts and time limits f...
Finance : In the operation of Senior Citizens’ Savings Scheme (SCSS), it has been noticed in few cases on the death of the account holder,...
Corporate Law : The Union Cabinet chaired by chaired by Prime Minister Shri Narendra Modi has given its approval for extending the investment limi...
Finance : At present, premature closure of a Public Provident Fund (PPF) account is permitted on specified grounds on completion of five fin...
Finance : The interest rates of Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme, 2004 (SCSS 2004), and ...
Finance : The government has kept small savings interest rates unchanged for April–June 2026, ensuring continued stable returns for invest...
Finance : The government has decided to keep small savings interest rates unchanged for January–March 2026. The move ensures stability and...
Finance : The government has kept interest rates on PPF, NSC, SCSS, Sukanya Samriddhi, and other small savings schemes unchanged for Q3 FY 2...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Finance : Interest rates for Small Savings Schemes for Q4 of FY 2024-25 will remain unchanged from Q3, effective January 1, 2025....
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 exceptions. The spread on 10 year NSC (new instrument) will be 50 bps and on Senior Citizens Savings Scheme 100 bps. The interest rates for every financial year will be notified before 1st April of that year.
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 under this scheme.
Circular Ref. No. DGBA.CDD.H-10566/15.15.001/2008-09 Dated 5-6-2009 As you are aware, investors under Senior Citizens Savings Scheme, 2004 (SCSS) are eligible to file Form 15-G and 15-H to claim exemption from TDS on the interest payable on the deposits under the said scheme. 2. Central Board of Direct Taxes have now clarified, vide their Office Memorandum F.No.275/36/2009-IT(B) […]
(1) These rules may be called the Senior Citizens Savings Scheme Rules, 2004. (2) They shall come into force on the 2nd day of August, 2004.
