Senior Citizen Savings Scheme 2021-22 Latest rules.
Senior Citizen Savings Scheme 2021-22 Latest rules.
@different moods SCSS stands for Senior Citizens Savings Scheme.
Our other videos link at bottom…scroll down for links…
This scheme is exclusively for Senior Citizens (aged 60 years or more). This scheme provides regular income on a quarterly basis.
Scheme exclusively for Senior Citizens
Backed by the Government of India
Safe investment option
Guaranteed returns
Regular quarterly income
Peace of mind during retirement life
Income tax benefits
Only Indian residents can open the account. An individual of the age of 60 years or more can open the account.
An individual of the age of 55 years or more but less than 60 years and who has retired on superannuation or under VRS can also open account
Joint account can be opened with spouse only. First depositor in joint account is the investor
Any number of accounts can be opened. But, total investment in all the accounts should not exceed the maximum investment limit of Rs. 15 Lakhs.
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Nomination video 2.
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Our other videos….
PPF RULES CHANGE 2020
Is PPF safe in Banks ?
PPF NRI RULES
Get double benefit from your PPF
PPF Minor account
3 mistakes in your PPF account
Secretes behind your PAN / GST number
Investment mistakes by common man
New RBI BONDS 2020
PMVVY DETAILS 2020
Senior Citizen Savings Scheme 2020
POST OFFICE MONTHLY INCOME SCHEME
Sukanya Samridhi Account
Post office Recurring (RD)
NPS DETAILS 2020
Gold Bonds 2020
.
Nomination video 1.
Nomination video 2.
Mode of operation in joint account.
10 Questions to ask before opening a bank account
PMVVY NEW RULES 2021
Senior Citizen scheme rules 2021
Old Tax System:
Deposit amount (up to Rs. 1.5 Lakhs) qualifies for tax deduction under Section 80C of the Income Tax Act.
TDS (Tax Deducted at Source) is deducted on interest amount if the interest received is more than Rs. 50,000 in a financial year.
This new limit of Rs. 50,000 is from the financial year 2018-19. That is, from 01-Apr-2018 onwards. Note that the limit was Rs. 10,000 earlier.
Interest received under this scheme is taxable. You need to declare the interest income under “Income from Other Sources” during tax returns and pay the income tax as per your income tax slab.
New Tax System:
No income tax benefits. The deposit amount won’t get any deduction benefit under Section 80C of the Income Tax Act.
TDS (Tax Deducted at Source) is deducted on interest amount if the interest received is more than Rs. 50,000 in a financial year.
This new limit of Rs. 50,000 is from the financial year 2018-19. That is, from 01-Apr-2018 onwards. Note that the limit was Rs. 10,000 earlier.
Interest received under this scheme is taxable. You need to declare the interest income under “Income from Other Sources” during tax returns and pay the income tax as per your income tax slab.
Comparison with POMIS…which one should prefer?
Sir kon sa bank jada de raha hai ..rates ?
You are not clarifying as to how many times , SCSS account can be extended after maturity.
Can a non govt employees age of 60+ aligible for invest in this scheme
15 lecs par month kya premer milaga
Very Good & Detailed presentation. Thank you very much.
I have s.B.i senior citizen schemes and can I again apply senior citizen schemes at post office
Sir,
Can i transfer my scss ac from sbi to post office..
Can u guide aftr 5year agar koi renew karwa rha ho
Previous rate pe hoga ya current
thanks for your video. I have a question for you: is the principal deposit amount taxable on maturity? Could you kindly illustrate a bit more about the taxation on the deposit amount and the earned interest? if so, how much is the tax? how can someone avoid the taxation? Thanks a lot!
क्या सीनियर सिटीजन खाते को एक साल के पहले बंद किया जा सकता है डाकघर का यदि हा तो कैसे, तरीका क्या है
Senior citizens scheme kin kin banks me applicable hai…? Pnb sbi ya phir sirf post office me.. Bank me benifit rules wahi rahengy..?
Sir, SCSS mature hone ke bad kitne dino ke ander 3 sal ka extension kar sakte hai. Sir, Please reply. It is urgent. Thanks and regards.
Good information
How much maximum amount can be deposited by the senior citizens without any tax.
Hello,
Suppose I have invested 15laks in SCSS , Feb 2012 and its mature date Feb 2017.
I have extended for 3 years where the mature date is Feb 2020.
My question is that can I now invest 15laks again in SCSS for next 5 years ?
Sir excellent explained….sir wat is the interest rate ,,,for extension of three years ….present interest or old interest( which paid for 5year)
Is tax exemption available for 2nd or any subsequent year for amount 10 or 15 lac deposited in 1st year in SCSS?
Can a senior citizen open scss in post office and scss in SBI both together at a time ? Please answer
Hello sir…
Is there any tax deduction from bank itself ?
Plz clarify
Sir ten lakh invest Kiya hai.Abhi 5 lakh invest karna hai joint account me Kiya tha.tab wife ka age 55 tha to vapas 5lakh invest kar sakte hai kya.myane vr liya tha.
In this scheme income tax is deducted by IT department.soitmaynotgood.
Agar koi help line number hai to bataiye
Sir sbi and post office sahit
I have invested 15 lac in SBI under SCSS But in fy 21-22 in dec 2021 they have deducted TDS of rs 8429. Is SCSS covered by tds. Please clarify 🙏
Sir wife ka age 55 Raha to eska ist name aur mye sr citizen hai to account khol sakte hai kya.
04 saal baad Account close krne mai kitna paisa kmm milega,mere 10 lakh rs.SCSS mai post office zma hai,19 febuary ko 04 saal pura hone par Account close krvana hai,Please Reply immediate.
Sir maine apne father ka scss me 10 lac ka investment bank of baroda me 12 july 2021 ko kiya tha
But Oct 3 tak interest ka first installment account me aaya nahi hai.
Please bataiye interest kab saving account me transfer hota hai.
Please sir me bahut tension me hu.
Please help
It is possible to keep 30 lakh in a joint accouny of spouse each a/c havung a amt of 15 lakh each.
Right sir??
My fathet is retired aged 61yr. And my mother is 52 workinng govt servant. Can the above condituon be applied in this case
Very informative ,thank you
Are the signature and the photograph of the nominee necessary while opening the SCSS? Should the nominee sign in the application form? Should his/her photograph be pasted in the application form? Please answer at the earliest.
Perfect analysis. 👌
Is it possible to extend the tenure after 5+3 years?? Kindly help.
Sir, Will you clarify my one doubts?
If I will invest in SCSS in authorized pvt. Bank, And suppose pvt.Bank goes into liquidation then will I get only guaranteed amount of Rs.5L by DICGC? Or
Whatever amount put by me will be returned?
How to fill up SCSS FORM-F by registered Nominee in SBI?
Very good presentation.
Thank you for this informative video.
Agar bank me scss kiya hua hai to bank me kitna paisa saif hai
My father is 60+ and my mother is 54 can they open joint account with investing amount 15-15 lakh each???
Can a widow open an account with non senior category daughter
Sir, can I make partial widhrawl from this amount of Rs fifteen lacs which I deposited in October 2020 as I am in urgent need of funds now ?
Government job se husband ret. ho and husband ki death ho gai ho and uski wife Jo senior citizen hai wo invest ker skte hai?
Hi sir…my father age is 74 years , mother was expired and my age is 31years. Can I open a joint scss account in my father name ?….and if I deposit (example 100000 rupees ) as on 3rd March 2022 shall I claim this deposit amount In ITR under 80C for the assessment year 2022-23(FY 2021-2022) ?…is this 80C deduction is allowed only in the year of deposit or it can be claimed for 5years?…pls reply me sir
Will sbi bank allow me to transfer to post office.. If they won’t allow… What can i do.. Who I should contact…
As transfer between post office s allowed then.. Bank must allow too… As it s a separate ac and bank s just a deposit office..
My husband is above 70 years we want to invest in this scheme what is the last date(period)
मेरा ubi scss खाता मै pnb मे tranfer कर सकता हुं?
Sir can you please explain what you said between 5.36 min to 6.02 min ??
In case I had deposited Rs 15 lacs in last FY so I am applicable for tax rebate of 1.5 lacseveryyear or only first financial year
Pl guide
If 1st holder death in SCSS than is it mandatory that the age of second holder must be 60 years?…
Can my recently opened scss account in sbi bank mumbai be transferred to canara bank mumbai where I have my sb account since many years. Please confirm, if so also procedures reqd.
nyc explaination without any nonsense