https://www.taxtmi.com/notifications?id=130789 The Rules create the Senior Citizens Savings Scheme permitting individuals aged 60+ (and certain voluntarily retired persons 55-59) to open post office accounts; deposits must be in multiples of one thousand up to a combined ceiling of fifteen lakh rupees, with specified modes of payment. Accounts mature after five years and may be extended three years by application; quarterly interest is payable at the prescribed rate and post maturity interest rules apply. Premature closure after one year is allowed subject to percentage deductions; nominations, joint account rules, death claim procedures, transfer, prescribed forms and documentary requirements are set out, and NRIs/HUFs are ineligible to open new accounts. en-us Mon, 02 Aug 2004 00:00:00 +0530 Sat, 14 Sep 2019 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=130789 The Rules create the Senior Citizens Savings Scheme permitting individuals aged 60+ (and certain voluntarily retired persons 55-59) to open post office accounts; deposits must be in multiples of one thousand up to a combined ceiling of fifteen lakh rupees, with specified modes of payment. Accounts mature after five years and may be extended three years by application; quarterly interest is payable at the prescribed rate and post maturity interest rules apply. Premature closure after one year is allowed subject to percentage deductions; nominations, joint account rules, death claim procedures, transfer, prescribed forms and documentary requirements are set out, and NRIs/HUFs are ineligible to open new accounts. Notifications Income Tax Mon, 02 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/notifications?id=130789