Sr. Citizen Savings Scheme Account Holders complaints raised regarding deduction of TDS in the month of April 2024 – Direction for refund the same by Department of Posts dated 26.04.2024

-

 FS-10/1/2022-FS-DOP GOI-MOC Department of Posts(FS Division) Dated: 26.04.2024

To
All Head(s) of the Circles

Subject-Regarding complaints raised by Sr. Citizen Savings Scheme Account Holders for deduction of TDS in the month of April 2024.

Madam/Sir,

This is regarding TOS deduction from the interest credited on the first working day of April 2024 with respect to Senior Citizen Saving Scheme (SCSS) accounts. Various complaints / references have been received from several SCSS account holders through mails / complaints on deduction of TDS on 03/04/2024.

2. This issue arose due to the increase in the maximum investment limit in SCSS Scheme from Rs. 15 lakh to Rs. 30 lakh w.e.f. 01.04.2023. Circles may be aware that the quarterly interest in respect of the SCSS accounts opened on or after 01.11.2020 is payable after completion of the quarter ending 31st March/30th June/30th September/31st December, on first working day of April/ July/ October/ January, in accordance with the provisions under Rule 5 of SCSS Scheme Rules 2019. Hence, TDS in respect of the account holders whose interest income exceeded the prescribed limit an the first working day of April, was deducted. However, the depositors who desire to submit the forms 15G or 15H to avoid tax deduction did not get any time to submit the forms.

3. Keeping in view of the fact that the depositors did not get any time to submit 15G or 15H, to avoid inconveniences to the Senior Citizens and settle the complaints in this regard, it has been decided by competent authority that.

  1. The TOS deducted on 03.04.2024 may be refunded to SCSS account holders on submission of Form 15G or 15H for the financial year 2024-25.
  2. To facilitate the refund process by post offices, the HRFTDS (TDS refund) menu in Finacle will be enabled till 30.04.2024.

4. It is therefore, Circles are requested to circulate the instructions immediately to all concerned for necessary action.

5. Circles should ensure that while refunding the TDS, the aforementioned instructions are scrupulously followed without any violation by the post offices and HRFTDS menu is used only for those cases where TDS was deducted on 03.04.2024 only. If any other TDS is refunded using the said menu, the official(s) concerned shall be responsible.

5. This issues with the approval of Competent Authority.

Yours faithfully,

(Devender Kumar Sharma)
Assistant Director(SB-I)


Comments

Post a Comment

Popular posts from this blog

GREAT HOPE : Grant of notional increment to govt servants Superanuated on 30th june or 31st December-reg dated 26th June 2023

-
Image
  Grant of notional increment to Govt servants superannuated on 30th June or 31st December – Further action will be taken on completion of the consultation process: DoP&T 19/1/2023PersPolicy[Pay(Promotion)] 1/3026765/2023 19/1/2023 Pers Policy [Pay (Promotion)] Government of India Ministry of Personnel, Public Grievances and Pensions Department of Personnel & Training North Block, New Delhi Dated June, 2023 To Shri Ramsahay Vijay Email: rsvijayvargia[at]gmail.com Subject: Grant of notional increment to Govt servants superannuated on 30th June or 31st December-reg Sir, I am directed to refer to your email dated 06.06.2023 in the matter involving grant of notional increment to the Central Government employees who superannuated on 30th June or 31st December in light of the Order of Hon’ble Supreme Court dated 11.04.2023 in the case of KPTCL v/s C.P. Mundinmanian and dismissal of SLP No.4722/2021 filed by UOI in order dated 19.05.2023. 2. In this regard it is informed that action i
Read more

Approval of the Government of India for extending the benefits of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to all senior citizens aged 70 years and above.National Health Authority L.S. CHANGSAN (I.A.S.) Chief Executive Officer D. O. No. S-12018/395/2022-NHA 20th September, 2024

-
Image
  National Health Authority This is to inform you of the approval of the Government of India for extending the benefits of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to all senior citizens aged 70 years and above. 2. Salient features of the approval are as below: a. The benefits of AB PM-JAY would now be available to all senior citizens of the age 70 years and above irrespective of their socio-economic status. These benefits will be available to senior citizens of 70 years and above in families already covered under AB PM-JAY (hereinafter referred to as ‘existing families’), as well as in families which are not covered under the AB PM-JAY, (hereinafter referred to as ‘new families’). b. The only eligibility criteria for availing benefits under the scheme would be attainment of age of 70 years or above by the individual. This would be determined on the basis of age recorded in Aadhaar. As per prevailing practice, Aadhaar would be the only document requi
Read more