National Savings Certificate: certificates must be encashed on becoming non-resident; interest paid at post office savings rate. Where a resident Indian certificate-holder becomes a Non-Resident during the maturity period, the certificate shall be encashed or deemed encashed on the day he becomes a Non-Resident, and interest shall be paid at the rate applicable to the Post Office Savings Account from that day until the last day of the month preceding actual encashment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
National Savings Certificate: certificates must be encashed on becoming non-resident; interest paid at post office savings rate.
Where a resident Indian certificate-holder becomes a Non-Resident during the maturity period, the certificate shall be encashed or deemed encashed on the day he becomes a Non-Resident, and interest shall be paid at the rate applicable to the Post Office Savings Account from that day until the last day of the month preceding actual encashment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
