2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7%
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3%
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5%
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7.5%
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Detailed explanation-1: -Mahila Samman Savings Certificate will be available for a two-year period between 2023 and 2025. It offers a fixed interest rate of 7.5 per cent for a tenure of two years.
Detailed explanation-2: -No, there is no tax deduction for the investment made in Mahila Samman Saving Certificate under Section 80C. However, since the interest received under this scheme is below Rs.40, 000, no TDS is deducted from the interest amount.
Detailed explanation-3: -The government introduced the Mahila Samman Savings Certificate (MSSC), a small savings scheme intended specifically for women to encourage them to invest, in the Union Budget 2023. Investment into the scheme will fetch an interest at the rate of 7.5 per cent per annum. The scheme is effective from March 31, 2023.