In a step towards women empowerment, Finance Minister Nirmala Sitharaman, while presenting Budget 2023, launched a one-time small savings scheme for women investors known as the Mahila Samman Savings Certificate (MSSC).
Mahila Samman Savings Certificate (MSSC) savings scheme: Key things to know
The deposit can be made in the name of a woman or a girl child.
Mahila Samman Saving Certificate: Amount
The maximum deposit amount has been kept at ₹2 lakh.
Mahila Samman Saving Certificate scheme: Tenure
Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025.
Mahila Samman Saving Certificate scheme: Interest rate
This will offer deposit facility upto Rs.2 lakh in the name of women or girls for a tenor of 2 years at fixed interest rate of 7.5 per cent.
Mahila Samman Saving Certificate: Withdrawal limit
The government of India has allowed the partial withdrawal option in the Mahila Samman Saving Certificate scheme.
Mahila Samman Saving Certificate: Tax benefits
Small savings schemes qualify for significant tax benefits under Section 80C of the Income Tax Act. However, the taxation structure of the scheme is not known yet.
