Business Studies, asked by jahangirkhan000786, 5 months ago

An elderly person wants to use tax efficient investment and invests in senior citizen saving scheme. It�s the impact in his taxation

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Answered by spandanachitti6401
0

Answer:

The principal amount deposited in an SCSS account is eligible for tax deductions under Section 80C of the Income Tax Act, 1961, up to the limit of Rs. 1.5 Lakh. However, this exemption is applicable only under the existing tax regime.

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