My mother is a pensioner and has invested in Senior Citizen Savings Scheme.
Is the interest earned on this account comes under Savings or Fixed deposits? I am asking this question specifically since from this year it is mandatory to show interest earned in savings account and fixed deposits separately, while filing ITR. Thank You.
1 Answers
Hi,
Contribution to Senior Citizen Savings Scheme is treated as a Deposit. Hence, you can advise her to select the option 'Interest from deposit' (Bank/Post office/Cooperative society).
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