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        Case ID :
        Income Tax

        SENIOR CITIZENS SAVINGS SCHEME (AMENDMENT) RULES, 2012 - AMENDMENT IN RULE 7. - GSR 321(E) - Income Tax Act, 1961

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        Interest rate for Senior Citizens Savings Scheme updated, applying a fixed annual rate to qualifying new deposits. Amendment inserts a proviso into Rule 7(1) of the Senior Citizens Savings Scheme Rules, 2004 providing that deposits made under the Scheme on or after 1 April 2012 shall bear interest at the rate of 9.3 per cent per annum from the date of deposit.
                          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.

                                Interest rate for Senior Citizens Savings Scheme updated, applying a fixed annual rate to qualifying new deposits.

                                Amendment inserts a proviso into Rule 7(1) of the Senior Citizens Savings Scheme Rules, 2004 providing that deposits made under the Scheme on or after 1 April 2012 shall bear interest at the rate of 9.3 per cent per annum from the date of deposit.


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