Monday, July 12, 2010

Senior Citizen's Saving Scheme

In Senior Citizen Savings Scheme, TDS will be deducted even if annual interest is low, say below Rs. 500, unless 15H form is submitted. This causes considerable hardship to Senior Citizens, as they have to submit 15 H before end of June every year. Many low middle class Senior Citizens earn low interest from Senior citizens Saving Scheme. Government should therefore fix a limit for interest below which 15H need not be submitted just as inBank FDs where TDS will not be deducted if interest is below 10000

No comments:

Post a Comment