ALL ABOUT SENIOR CITIZEN SAVINGS SCHEME (SCSS)

Introduction: The Senior Citizen Savings Scheme (SCSS) has undergone significant updates following the November 2023 notification (SB Order No. 22/2023). This article provides a comprehensive understanding of the latest SCSS rules, covering eligibility criteria, investment options, extension of tenure, and income tax benefits.

Senior Citizen Savings Scheme (SCSS) after SB Order No.22/2023 Dated: 14.11.2023

Deduction u/s 80C under Income Tax Act, 1961 is allowed to the extent of RJs. 1,50,000/- to an individual who has crossed the following criteria of the age: