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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Uniform 50% Deduction Rate Set for Small Savings Agents' Commissions; Applies to Various Certificate Sales and Unit Trusts.</h1> The Board has decided to implement a fixed rate of deduction for expenses incurred by authorized small savings agents from their commission, where no detailed accounts are maintained. Previously, a 40% deduction was standard for agents selling National Savings Certificates and Post-office Time Deposits. The rate was increased to 50% for agents handling public provident fund deposits. Now, due to rising costs and to ensure uniformity, a 50% deduction rate will also apply to agents dealing with National Savings Certificates (II, VI, VII Issues), Social Security Certificates, and Unit Trust of India, provided the gross commission is under Rs. 60,000.
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