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No TDS on Interest from Mahila Samman Savings Certificate
May 23 , 2023
599 days
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- The recent Central Board for Direct Tax (CBDT) notification provides clarity on the taxation of interest earned from Mahila Samman Savings Certificate.
- As per the notification, if the interest earned does not exceed Rs. 40,000 in a financial year, no TDS will be applicable.
- It is aimed to encouraging more women towards investing.
- It has received a tax deducted at source exemption on interest earnings.
- The Mahila Samman Savings Certificate scheme was introduced during FY23 as a savings option exclusively for girls and women.
- It offers an attractive annual interest rate of 7.5%.
- It allows individuals to open an account in their name.
- The maximum deposit limit for the scheme is set at Rs. 2l akh.
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