National Savings Certificates updated maturity, interest and premature closure values for accounts opened on or after 1 April 2023. The amendment deems the Scheme to be in force from 1 April 2023, narrows prior 'on or after' references to specified date ranges, fixes the maturity value for an account opened on or after 1 April 2023 with Rs.1000 at Rs.1449.03 (proportionate for other sums), prescribes rounding of fractional rupees (>=50 paisa round up), inserts an annual interest accrual schedule for Rs.1000 certificates purchased on or after 1 April 2023, and adds a table of premature closure amounts for accounts opened on or after 1 April 2023.
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 Certificates updated maturity, interest and premature closure values for accounts opened on or after 1 April 2023.
The amendment deems the Scheme to be in force from 1 April 2023, narrows prior "on or after" references to specified date ranges, fixes the maturity value for an account opened on or after 1 April 2023 with Rs.1000 at Rs.1449.03 (proportionate for other sums), prescribes rounding of fractional rupees (>=50 paisa round up), inserts an annual interest accrual schedule for Rs.1000 certificates purchased on or after 1 April 2023, and adds a table of premature closure amounts for accounts opened on or after 1 April 2023.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
