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        Case ID :
        Income Tax

        Post Office (Monthly Income Account) Amendment Rules, 1999 - G.S.R. 5(E) - Income Tax Act, 1961

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        Post Office Monthly Income Account deposits from 1 Jan 1999 earn 12% per annum interest. The Central Government amends the Post Office (Monthly Income Account) Rules, 1987 by inserting into rule 8(1) that deposits made on or after 1 January 1999 shall bear interest at the rate of 12 per cent per annum; the amendment takes effect on publication in the Official Gazette and modifies the rates previously applicable to deposits after 2 September 1993.
                      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.

                            Post Office Monthly Income Account deposits from 1 Jan 1999 earn 12% per annum interest.

                            The Central Government amends the Post Office (Monthly Income Account) Rules, 1987 by inserting into rule 8(1) that deposits made on or after 1 January 1999 shall bear interest at the rate of 12 per cent per annum; the amendment takes effect on publication in the Official Gazette and modifies the rates previously applicable to deposits after 2 September 1993.


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