https://www.taxtmi.com/acts?id=8375 Where repayment of a Monthly Income Account deposit inclusive of bonus has become due but not made, interest is allowed from date of maturity to date of repayment. The interest is simple, calculated at the rate applicable to savings accounts of the single or joint account type; any period less than one month is ignored, and the interest is paid to the depositor in a lump sum at repayment. en-us Mon, 18 Feb 2008 11:55:26 +0530 Mon, 05 Jan 2026 15:24:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=8375 Where repayment of a Monthly Income Account deposit inclusive of bonus has become due but not made, interest is allowed from date of maturity to date of repayment. The interest is simple, calculated at the rate applicable to savings accounts of the single or joint account type; any period less than one month is ignored, and the interest is paid to the depositor in a lump sum at repayment. Act-Rules Direct Taxes Mon, 18 Feb 2008 11:55:26 +0530 https://www.taxtmi.com/acts?id=8375