No TDS on Interest from Mahila Samman Saving Certificate Scheme: CBDT issued notification no. 27/2023 – Income Tax | Dated: 16th May 2023.
Mahila Samman Saving Certificate Scheme:
The Mahila Samman Saving Certificate Scheme is a special investment option designed for the empowerment of women in India. It offers a higher interest rate and provides women with a safe and secure way to invest their savings. As per notification no. 27/2023 dated 16th May 2023, there will be no TDS on the interest earned from this scheme. This exemption makes the scheme even more attractive for Indian women above 18 years of age looking to invest their money.
The scheme is aimed at empowering women in India by giving them a reliable investment option. As compared to other savings schemes, the Mahila Samman Saving Certificate Scheme provides a better interest rate. It is aimed specifically at women and offers a safe and straightforward investment option. This makes it easier for women to save and plan their finances.
Overall, the Mahila Samman Saving Certificate Scheme is a fantastic investment option designed specifically for Indian women. It provides a higher interest rate compared to other savings schemes and offers a safe and secure investment option. With the added benefit of no TDS on interest earned, it is an attractive option for women looking to invest their money wisely.
No TDS on Interest from Mahila Samman Saving Certificate Scheme
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi
Notification No. 27/2023-Income Tax | Dated: 16th May, 2023
S.O. 2189(E).—In exercise of the powers conferred by sub-clause (c) of clause (i) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that the Scheme namely the Mahila Samman Savings Certificate, 2023, made in exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873) and notified vide notification number G.S.R. 237(E) dated the 31st March, 2023 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), shall be a Scheme framed for the purposes of said sub-clause.
This notification shall come into force from the date of its publication in the Official Gazette.
[Notification No. 27/2023/F. No. 370142/11/2023-TPL]MRINALINI KAUR SAPRA, Director
