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Your results are here!! for" Senior Citizens Saving Scheme "
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Question 1 of 10
1. Question
What is the minimum age for individuals to generally open an account under the Senior Citizens‘ Saving Scheme?
Correct
Individuals aged 60 years or above are eligible for SCSS.
Incorrect
Individuals aged 60 years or above are eligible for SCSS.
Unattempted
Individuals aged 60 years or above are eligible for SCSS.
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Question 2 of 10
2. Question
What is the minimum deposit required under the Senior Citizens‘ Saving Scheme?
Correct
The minimum deposit under SCSS is ₹1,000, in multiples thereof.
Incorrect
The minimum deposit under SCSS is ₹1,000, in multiples thereof.
Unattempted
The minimum deposit under SCSS is ₹1,000, in multiples thereof.
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Question 3 of 10
3. Question
What is the maximum amount that can be deposited under SCSS?
Correct
The maximum deposit permitted under SCSS is ₹30 lakhs.
Incorrect
The maximum deposit permitted under SCSS is ₹30 lakhs.
Unattempted
The maximum deposit permitted under SCSS is ₹30 lakhs.
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Question 4 of 10
4. Question
With whom can an SCSS account be held jointly?
Correct
An SCSS account can be held jointly with the spouse.
Incorrect
An SCSS account can be held jointly with the spouse.
Unattempted
An SCSS account can be held jointly with the spouse.
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Question 5 of 10
5. Question
How frequently is interest paid under the Senior Citizens‘ Saving Scheme?
Correct
Interest under SCSS is payable quarterly.
Incorrect
Interest under SCSS is payable quarterly.
Unattempted
Interest under SCSS is payable quarterly.
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Question 6 of 10
6. Question
On which days is SCSS interest payable quarterly according to the given details?
Correct
Interest is payable on the 1st working day of April, July, October, and January.
Incorrect
Interest is payable on the 1st working day of April, July, October, and January.
Unattempted
Interest is payable on the 1st working day of April, July, October, and January.
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Question 7 of 10
7. Question
What is the maturity period of an SCSS account from the date of opening?
Correct
The maturity period of an SCSS account is 5 years from the date of opening.
Incorrect
The maturity period of an SCSS account is 5 years from the date of opening.
Unattempted
The maturity period of an SCSS account is 5 years from the date of opening.
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Question 8 of 10
8. Question
For how many additional years can an SCSS account be extended?
Correct
The SCSS account can be extended for 3 more years.
Incorrect
The SCSS account can be extended for 3 more years.
Unattempted
The SCSS account can be extended for 3 more years.
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Question 9 of 10
9. Question
What is the minimum age for retired Defence Services personnel to be eligible for SCSS according to the given details?
Correct
Retired Defence Services personnel aged 50 years and above are eligible, excluding civilian defence employees.
Incorrect
Retired Defence Services personnel aged 50 years and above are eligible, excluding civilian defence employees.
Unattempted
Retired Defence Services personnel aged 50 years and above are eligible, excluding civilian defence employees.
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Question 10 of 10
10. Question
Under which section of the Income Tax Act is SCSS eligible for a deduction?
Correct
SCSS is eligible for deduction under Section 80C of the Income Tax Act.
Incorrect
SCSS is eligible for deduction under Section 80C of the Income Tax Act.
Unattempted
SCSS is eligible for deduction under Section 80C of the Income Tax Act.