SB Order 13/2023: Tax deduction on MSSC and SCSS Interest

After popularisation of Mahila Samman Savings Scheme (MSSC), the government issued an order regarding tax deduction at source (TDS) on MSSC interest and SCSS interest. This order is known as SB Order 13/2023.

SB order 13/2023

SB Order 13/2023

As per this SB order, if the aggregate amount of interest is earned more than 40,000/- in a financial year in respect of Mahila Samman Savings Scheme and other savings schemes than TDS will be deduction at source.

The threshold limit for TDS deductions are as under-

  • For senior citizen who is resident in India- 50,000/-
  • Others- 40,000/-

SB Order no. 13/2023 PDF

SB Order 13/2023 PDF Download

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