Current Affairs · Government Schemes
Which of the following statements is FALSE regarding the Senior Citizen Savings Scheme (SCSS) rules as of 2024?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The interest rate for Q3 FY2023-24 was set at 8.2% per annum.
- 2The maximum investment limit is Rs 30 lakh.
- 3Investments qualify for tax deduction under Section 80C of the Income Tax Act.
- 4Premature withdrawal is completely prohibited within the first 1 year of opening the account.✓
Correct answer
Premature withdrawal is completely prohibited within the first 1 year of opening the account.
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