https://www.taxtmi.com/article/detailed?id=7962 The Rules govern Post Office Monthly Income Accounts: eligible individual depositors (including guardians for minors) may open single or joint accounts; deposits must comply with prescribed multiples and aggregate ceilings with depositor shares in joint accounts apportioned equally. Interest accrues monthly from completion of a month, subject to rounding rules, and historical rate brackets apply to deposits made in specified periods. Nomination, transfers, conversion between single and joint status, and required withdrawal of excess balances are provided. Closure on maturity, premature withdrawal with specified deductions, post maturity simple interest for a limited period, and tax treatment (no TDS; not eligible under Section 80C; interest taxable) are set out. en-us Sat, 14 Apr 2018 06:55:02 +0530 Sat, 14 Apr 2018 06:55:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7962 The Rules govern Post Office Monthly Income Accounts: eligible individual depositors (including guardians for minors) may open single or joint accounts; deposits must comply with prescribed multiples and aggregate ceilings with depositor shares in joint accounts apportioned equally. Interest accrues monthly from completion of a month, subject to rounding rules, and historical rate brackets apply to deposits made in specified periods. Nomination, transfers, conversion between single and joint status, and required withdrawal of excess balances are provided. Closure on maturity, premature withdrawal with specified deductions, post maturity simple interest for a limited period, and tax treatment (no TDS; not eligible under Section 80C; interest taxable) are set out. Articles Income Tax Sat, 14 Apr 2018 06:55:02 +0530 https://www.taxtmi.com/article/detailed?id=7962