I am a senior citizen. My age is 62 years. I have received rental income of Rs 3,00,000. I want to avail deduction under Section 80C. I am thinking to invest in Senior Citizen Post Office Scheme as its rate of interest is more than F.D. Will Senior citizen post office scheme be eligible for 80C deduction?
Yes sir. Senior Citizen saving scheme shall be eligible for 80C deduction. You can invest maximum upto Rs 1500000 in the said scheme.However maximum deduction permissible under Section 80C shall be Rs 150,000.Hope it suffice your query.