https://www.taxtmi.com/news?id=16958 The Senior Citizens Savings Scheme, 2004 is operated through post offices and designated bank branches with a reported aggregate of 161,912 accounts. It sets an upper investment ceiling of fifteen lakh for persons aged sixty and a cap equal to total retirement benefits for those retired before sixty. Deposits are exempt under the applicable income-tax deduction provision, but interest earned is taxable and Tax Deduction at Source provisions apply; a specified interest rate was declared for the quarter. en-us Fri, 25 Nov 2016 19:06:33 +0530 Fri, 25 Nov 2016 19:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16958 The Senior Citizens Savings Scheme, 2004 is operated through post offices and designated bank branches with a reported aggregate of 161,912 accounts. It sets an upper investment ceiling of fifteen lakh for persons aged sixty and a cap equal to total retirement benefits for those retired before sixty. Deposits are exempt under the applicable income-tax deduction provision, but interest earned is taxable and Tax Deduction at Source provisions apply; a specified interest rate was declared for the quarter. News - Fri, 25 Nov 2016 19:06:33 +0530 https://www.taxtmi.com/news?id=16958