Is there any TDS on SCSS?

You have mentioned that we can get up to 9.3% pa on Senior Citizen Savings Scheme. My doubts are: Whether any TDS is deducted? What is the minimum & maximum period of investment? Can these a/c be closed before maturity? Whether any penal charges are collected? This deposit scheme available only at post offices or is it available elsewhere? Whether PAN number is compulsory? If the investor do not have PAN number, is there any alternative available? If the depositor & the recipient of the interest are different, who has to a/c for the interest for IT. Say, like son & father? - KRS Gupta Taxation: Investments in SCSS is eligible for tax deduction under Section 80C of IT Act. However, interest earned is fully taxable and tax is deducted at source only if the total interest exceeds ₹10,000 in a year. However, if income is not taxable, one has to provide from 15H or

This article was originally published on October 13, 2015.