9 things to know about Senior Citizen Saving Scheme:
• What SCSS offers?
• Eligibility
• Interest Rates
• Account opening procedure
• Taxation
• Maturity Period
• Minimum & Max Deposit
• Tenure
• Lapse of Scheme
– A Thread🧵⤵️ –
• What SCSS offers?
This scheme comes in as a viable investment option for retired as well as Senior citizens. It is one such parkway which aims at delivering safe & viable investment options.
The Eligibility criteria of individual investors must be at least 60 years & above. This scheme also includes retired defence personnel with a minimum age of 50 yrs.
People who are not allowed to invest in SCSS are NRIs & HUFs.
Here are #5ReasonsWhy the budget matters.
The budget is a bit… slow (no offence @nsitharaman, but there are better ways to spend #1stFeb).
Slow delivery aside, understanding the budget is beneficial. If nothing, you could get something for your #budgetday griping!
Taxation Changes:
Each budget decides the rates of both direct and indirect tax.
With the Union #Budget2023 , Income tax is expected to reduce, raising people’s income.
Indirect tax is expected to rise on fuel, luxury goods and tobacco, reducing demand.
Inflation and Interest Rates:
Rising indirect taxes on fuel may increase its prices, which raises the cost of various goods that use the same fuel as an input. This increase in price may lead to inflation.
Fiscal and monetary plans from the budget control inflation in a country.