https://www.taxtmi.com/article/detailed?id=7011 Rules create a long term savings account for resident girl children, opened by a guardian for beneficiaries under ten, limited to a single account per beneficiary and generally two per family with limited exceptions. They set minimum yearly deposits, a ceiling on annual contributions, annual compounding at government notified rates, default penalties and reduced interest for prolonged default. Withdrawals for higher education are allowed subject to proof and limits; transfers between post offices and banks are permitted where core banking exists; premature closure is restricted and maturity occurs after a long lock in with final payout to the beneficiary. en-us Wed, 28 Sep 2016 08:43:40 +0530 Wed, 28 Sep 2016 08:43:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7011 Rules create a long term savings account for resident girl children, opened by a guardian for beneficiaries under ten, limited to a single account per beneficiary and generally two per family with limited exceptions. They set minimum yearly deposits, a ceiling on annual contributions, annual compounding at government notified rates, default penalties and reduced interest for prolonged default. Withdrawals for higher education are allowed subject to proof and limits; transfers between post offices and banks are permitted where core banking exists; premature closure is restricted and maturity occurs after a long lock in with final payout to the beneficiary. Articles Other Topics Wed, 28 Sep 2016 08:43:40 +0530 https://www.taxtmi.com/article/detailed?id=7011