Interest income from Mahila Samman Certificate exempted from TDS
The Union Finance Minister, Smt. Nirmala Sitharaman announced Mahila Samman Saving Certificate, a new small savings scheme for women and girls, in her Budget Speech 2023-24.
By Anuradha Shukla, ET Bureau | Updated:
Mahila Samman Savings Certificate: Details of the new savings scheme designed for women investors
The centre on Wednesday said that interest received under the Mahila Samman Certificate scheme would not be subject to tax deducted at source (TDS) and will taxed based on the applicable tax bracket of the account holder.
The Central Board of Direct Taxes (CBDT) clarified it in a notification dated May 16.
The Union Finance Minister, Smt. Nirmala Sitharaman announced Mahila Samman Saving Certificate, a new small savings scheme for women and girls, in her Budget Speech 2023-24.
The scheme offers a maximum deposit amount of Rs. 2 lakh and a yearly interest rate of 7.5%.
The Central Board of Direct Taxes (CBDT) clarified it in a notification dated May 16.
The Union Finance Minister, Smt. Nirmala Sitharaman announced Mahila Samman Saving Certificate, a new small savings scheme for women and girls, in her Budget Speech 2023-24.
The scheme offers a maximum deposit amount of Rs. 2 lakh and a yearly interest rate of 7.5%.
In Video:
Mahila Samman Savings Certificate: Details of the new savings scheme designed for women investors
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
Related Articles
Earn 7.5% interest rate: PNB launches Mahila Samman CertificateADVERTISEMENT
