Is it permitted to invest 50% as lump sum of maximum limit of investment of 1500000 in the current financial year and remaining 50% as lump sum investment in the next financial year.
1 Answers
Hi,
I believe you can do so..
An individual can invest a maximum amount of Rs 15 lakhs, individually or jointly in an SCSS account (in multiples of Rs 1,000). The amount invested in the scheme cannot exceed the money that has been received on retirement. Hence, the individual can invest either Rs 15 lakhs or the amount received as a retirement benefit, whichever is lower. The account can be opened by cash for an amount below Rs 1 lakh and by cheque for an amount exceeding Rs 1 lakh.
A depositor can operate more than one account, subject to a maximum investment limit of Rs 15 lakh, by adding the balance in all accounts. Senior Citizen Savings Scheme accounts can be through single or joint holding but joint holding is allowed only with spouse. In case of a joint account, the age of the first applicant/depositor is the only factor in deciding eligibility. There is no age bar/limit for the second applicant/joint holder. The whole amount of investment in a Senior Citizen Savings Scheme account is attributed to the first applicant/depositor.
You may kindly go through this article..
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