DelhiDesk 1) TDS on SCSS interest if the interest accrued in the SCSS account surpasses the threshold limit of 50,000 in a financial year; 2) Fixed interest rate, individuals who created the account earlier at a lesser rate are at a disadvantage; 3) No interest on unclaimed interest income; 4) Limited age bracket, only seniors above 60 years old are eligible to open an SCSS account; 5) Fixed tenure, investments made in SCSS have a lock-in period of 5 years, and premature withdrawals will attract penalties.

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Here is the news bullets sorted by team.

๐Ÿ‘‰ TDS on SCSS interest if interest exceeds 50,000 in a financial year
๐Ÿ‘‰ Fixed interest rate disadvantages for those who opened account earlier at lower interest rate
๐Ÿ‘‰ No interest on unclaimed interest income each quarter
๐Ÿ‘‰ Limited age bracket of 60 years and above
๐Ÿ‘‰ Fixed tenure of 5 years with penalties for premature withdrawals

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