Applicability of TDS in respect of MSSC

Latest News

Clarification on deletion of name of daughter from the family details of a Central Government pensioner

View All >>

7th pay commission

7th Pay DA : जाने कितना बढ़ा महंगाई भत्ता

Good News For Central Govt Employees, Salary to Increase Up to THIS Amount
केंद्रीय कर्मचारियों का बंपर फायदा- ₹56,000 की बेसिक सैलरी पर DA बढ़कर होगा 2,08,320 रुपए, जानें कैलकुलेशन
दोगुनी होगी पेंशन! हटने वाली है 15000 रु की लिमिट? जानिए अब कितने मिलेंगे रुपये
महंगाई भत्ते के बाद अब बढ़ सकता है फिटमेंट फैक्टर, जानिए फिर कितनी हो जाएगी केंद्रीय कर्मचारियों की सैलरी!
केंद्रीय कर्मचारियों का फिटमेंट फैक्टर बढ़ेगा? 2.57 से बढ़कर 3 हुआ तो कितनी बढ़ेगी सैलरी
मप्र लिपिक वर्ग की वेतनविसंगति कब दूर होगी: कर्मचारी संघ
मनचाहा तबादला कर्मचारी का अधिकार नहीं: सुप्रीम कोर्ट –

view all>>

Allowances

Good News – Dearness Allowance (DA) Increased from 1 July 2024

view all>>

Central Govt

Clarification on deletion of name of daughter from the family details of a Central Government pensioner

view all>>

Applicability of Tax Deduction at Source (TDS) in respect of Mahila Samman Savings Certificate (MSSC) – Regarding.

June 3, 2023, 12:20 PM

SB Order No. 13 / 2023

No. FS-13/1/2023-FS-DOP
Government of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi – 110001
Dated: 31.05.2023

To
All Head of Circles / Regions

Subject: Applicability of Tax Deduction at Source (TDS) in respect of Mahila Samman Savings Certificate (MSSC) – Regarding.

Mahila Samman Savings Certificate (MSSC) scheme has been notified as a scheme in which TDS under Section 194A of Income Tax Act, 1961 (43 of 1961) vide Notification No. S.O. 2189(E) dated 16th May 2023 issued by Ministry of Finance, Department of Revenue, Central Board of Direct Taxes. A copy of the notification is attached herewith.

Accordingly, TDS deduction under Section 194A (Tax deduction on Interest other than “Interest on securities”) is applicable on the interest income earned through the following schemes notified by Central Government.

(i). Senior Citizens Savings Scheme (SCSS)
(ii). Mahila Samman Savings Certificate (MSSC)

Hence, if the aggregate amount of interest credited or paid to the payee in respect of SCSS and MSSC schemes during a Financial Year exceeds the following threshold limit, TDS is required to be deducted.

Payee category	Threshold limit in ₹
Senior Citizen (individual resident in India who is of the age of sixty years or more at any time during the relevant previous year.)	50,000/-
Others	40,000/-

4. This may be circulated to all the Offices for information and wide publicity among the public.

5. This is issued with the approval of competent authority.

Encl: As above.

Yours faithfully

(T C VIJAYAN)
Asst. Director (SB-I)

ORIGINAL ORDER

Railway Employee (App)

Rail News Center ( App)

Railway Question Bank ( App)

Railway Mutual Transfer

(App)

Information Center ( App)

Disclaimer: The Information /News /Video provided in this Platform has been collected from different sources. We Believe that “Knowledge Is Power” and our aim is to create general awareness among people and make them powerful through easily accessible Information. NOTE: We do not take any responsibility of authenticity of Information/News/Videos.

This entry was posted in General, Govt Employee, Income Tax, Post Office Employee, Central Govt, Miscellaneous