https://www.taxtmi.com/acts?id=7024 Rule 17 allows premature encashment of a certificate after three years at a discount: payable amount equals face value plus simple interest calculated at the Post Office Savings Bank single account rate on the encashment date, and the discount is the difference between that simple interest and interest under rule 16. Exceptions permit earlier encashment on pledge forfeiture conforming to the rules or by court order; within one year only face value is payable, and between one and three years encashment is at the discount and amount specified for three-year encashment. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 22 Jan 2026 18:05:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=7024 Rule 17 allows premature encashment of a certificate after three years at a discount: payable amount equals face value plus simple interest calculated at the Post Office Savings Bank single account rate on the encashment date, and the discount is the difference between that simple interest and interest under rule 16. Exceptions permit earlier encashment on pledge forfeiture conforming to the rules or by court order; within one year only face value is payable, and between one and three years encashment is at the discount and amount specified for three-year encashment. Act-Rules Direct Taxes Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=7024