https://www.taxtmi.com/acts?id=36735 Premature encashment of National Savings Certificates is allowed on death, pledge forfeiture to a Gazetted Government Officer, or court order. If encashed within one year only face value is payable. Encashment after one year but before three years yields face value plus simple interest at the Post Office Savings Account single account rate, with the difference from ordinary maturity interest treated as a discount. Encashment after three years pays the maturity amount under the ordinary interest rule adjusted for discount according to prescribed tables for Rs.100 and proportionately for other denominations, varying by purchase date. en-us Mon, 01 Jul 2019 12:46:00 +0530 Wed, 06 Nov 2024 16:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=36735 Premature encashment of National Savings Certificates is allowed on death, pledge forfeiture to a Gazetted Government Officer, or court order. If encashed within one year only face value is payable. Encashment after one year but before three years yields face value plus simple interest at the Post Office Savings Account single account rate, with the difference from ordinary maturity interest treated as a discount. Encashment after three years pays the maturity amount under the ordinary interest rule adjusted for discount according to prescribed tables for Rs.100 and proportionately for other denominations, varying by purchase date. Act-Rules Direct Taxes Mon, 01 Jul 2019 12:46:00 +0530 https://www.taxtmi.com/acts?id=36735