WebApr 8, 2024 · Some saving schemes are for senior citizens, some are targeted towards the welfare of women. There are also special schemes for farmers as well as people who are salaried. ... Interest earned in the account is free from Income Tax under Section -10 of I.T.Act. Interest rate: (April 01, 2024 to June 30, 2024)- 7.1%; 6. Sukanya Samriddhi Account. WebMar 20, 2024 · Senior Citizen Savings Scheme offers an interest rate of 8 percent with quarterly payout. Senior citizens can claim a tax deduction of up to Rs 1.5 lakh for investments in SCSS under Section 80 C of the Income Tax Act, 1961.
Here’s how seniors and retirees can file their taxes for free
WebMay 28, 2024 · Senior Citizens Savings Scheme (SCSS) is a government-backed scheme with a current interest rate of 7.40 per cent for the quarter of (April to June 2024). ... Under Section 80C of the Income-tax ... WebFeb 14, 2024 · IRS Tax Tip 2024-24, February 14, 2024 — For taxpayers on a fixed income, every penny matters. Many of these are seniors and retirees who can file their taxes for … phone number to call tracfone
10 Best Income Tax saving schemes and plans in 2024
WebJan 4, 2024 · 15 Best Tax Saving Schemes in India 1. ELSS Mutual Funds 2. Unit Linked Insurance Plan (ULIP) 3. National Savings Certificate 4. Sukanya Samridhi Yojana (SSY) 5. Public Provident Fund (PPF) 6. Senior Citizen Savings Scheme 7. Tax-savings fixed deposit 8. National Pension Scheme ( NPS ) 9. Savings bank account interest 10. WebApr 14, 2024 · Investment in the 5-year FD qualifies for tax deduction of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. ... Senior citizens having an FD account with the Post office (under Senior Citizens Savings Scheme Account(SCSS) ) can earn an interest rate of 8.2% on their deposits with the interest payable quarterly and applicable from the ... WebApr 14, 2024 · Investment in the 5-year FD qualifies for tax deduction of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. ... Senior citizens having an FD account with the … phone number to call walt disney world