ITR filing 2025: The NDA government 3.0 introduced a major income tax relief for the salaried class in the Union Budget 2025. Union Minister for Finance and Corporate Affairs Nirmala Sitharaman announced that individuals will not have to pay any income tax on total earnings up to Rs 12 lakh. This translates to an average monthly … Read more
The Senior Citizens Savings Scheme (SCSS) is designed specifically for elderly individuals residing in India. This scheme provides a reliable source of income along with top-notch security and tax advantages. Eligible senior citizens residing in India have the option to invest a lump sum amount in the scheme either individually or jointly, in order to … Read more
Senior Citizens Savings Scheme (SCSS): Planning for a secure and steady income after retirement is a priority for many. The Senior Citizens Savings Scheme (SCSS) offers retirees a reliable way to invest their funds while ensuring regular quarterly returns. Backed by the government, this scheme provides one of the highest interest rates among small savings … Read more
World Senior Citizens Day 2024: In the realm of financial planning, it is widely accepted that as individuals reach their 60s, a prudent adjustment to their investment portfolio involves a shift towards low-risk assets, such as fixed deposits, government-backed savings schemes and cash holdings, while reducing exposure to higher-risk investments like stocks and mutual funds. … Read more
When planning for a secure financial future, particularly retirement, the Senior Citizens Savings Scheme (SCSS) stands out as a reliable option. Made for those aged 60 and above, this government-backed scheme is tailored to meet unique financial needs of retirees, ensuring that they have a steady income stream during their post-retirement years. The SCSS is … Read more
FD investment: As investors enter their golden years, their investment appetite change as they tend to move towards safer tools from riskier ones. A fixed deposit (FD) is a financial instrument provided by various financial institutions such as banks and Non-Banking Financial Companies (NBFCs). Fixed deposits are known for their competitive interest rates, which are … Read more
I am a 65-year-old senior citizen. My Senior Citizen Savings Scheme has matured, and I want to withdraw the entire amount with interest and reinvest the principal amount of Rs 15 lakh for five years. Can I reinvest in the same scheme for five years? What should be my investment strategy? Reply by Rajiv Bajaj, … Read more
Senior citizens investment: The Senior Citizen Savings Scheme (SCSS) is a government-backed investment option favoured by retirees, offering a competitive interest rate of 8.2% per annum for investments made in the October-December quarter. Individuals aged 60 and above can invest up to Rs 30 lakh in an SCSS account. Deposits can be made in a … Read more
The Centre on Friday kept the interest rates of all small savings schemes unchanged for the July-September quarter of FY2025. In the last quarter too, the government kept the interest rates unchanged for the April-June quarter ahead of the Lok Sabha elections. In a notification, the Finance Ministry said: “The rates of interest on various … Read more
The Centre has recently revised the interest rates applicable to small savings schemes for the quarter of January-March 2024. Though it didn’t revise the interest rates for Senior Citizens Savings Scheme, the government-back scheme offers one of the best competitive rates to Indian residents aged above 60 years. Here’s a quick comparison of Senior Citizens … Read more