Based on the rules governing small savings schemes, which of the following statements is accurate regarding the investment limits and premature withdrawal conditions of the Public Provident Fund (PPF) and the Senior Citizen Savings Scheme (SCSS)?

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General Studies · Small Savings Schemes

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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SCSS allows a maximum investment of 30 lakh and PPF allows partial withdrawal after 5 years.

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Answer 1

PPF interest is taxable if the annual contribution exceeds 2.5 lakh in a single financial year.

Answer 2

SCSS allows a maximum investment of 30 lakh and PPF allows partial withdrawal after 5 years.

Answer 3

PPF has a lock-in period of 5 years after which the entire amount can be withdrawn without any conditions.

Answer 4

SCSS allows a maximum investment of 15 lakh per individual and is fully taxable upon maturity.

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