Interest accrual and reinvestment: revised NSC interest schedule and encashment values effective from start of financial year. Amendments prescribe a year by year interest accrual schedule for certificates purchased on or after the start of the financial year, require accrual of interest to holders with accruals up to the fourth year deemed reinvested and aggregated with face value, set a specified maturity amount for the Rs.100 denomination, and add an encashment valuation Table for certificates encashed after three years with amounts inclusive of interest after discount adjustment, applicable proportionately to other denominations.
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Provisions expressly mentioned in the judgment/order text.
Interest accrual and reinvestment: revised NSC interest schedule and encashment values effective from start of financial year.
Amendments prescribe a year by year interest accrual schedule for certificates purchased on or after the start of the financial year, require accrual of interest to holders with accruals up to the fourth year deemed reinvested and aggregated with face value, set a specified maturity amount for the Rs.100 denomination, and add an encashment valuation Table for certificates encashed after three years with amounts inclusive of interest after discount adjustment, applicable proportionately to other denominations.
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