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grandfather s hands with the savings and the plant growing
Investment in Senior Citizens Savings Scheme is available for deduction under Section 80C subject to the limits prescribed.
Q.I am about 81 years’ old. I desire to go for either Senior Citizens Savings Scheme or single premium Pradhan Mantri Vaya Vandana Yojana. Will I get tax relief under section 80C for the amounts invested in these schemes subject to limit of ₹1.5 lakh. I got no explicit information from Google search. Could you please advise me?
S.N. Bhadra
A. Investment in Senior Citizens Savings Scheme is available for deduction under Section 80C subject to the limits prescribed. Investment in Pradhan Mantri Vaya Vandana Yojana is not covered under Section 80C.