https://www.taxtmi.com/notifications?id=144599 The Post Office Monthly Income Account requires a single initial deposit in multiples of five thousand rupees within prescribed aggregate ceilings (one lakh single, two lakhs joint). Deposits bear 12% per annum interest payable monthly; interest may be credited to the depositor's savings account subject to balance limits and does not compound if unclaimed. Funds are repayable after a six-year lock-in with a 10% maturity bonus; premature closure is allowed after one year with a 5% deduction. Nomination and pass book procedures apply, and government may relax provisions for undue hardship. en-us Mon, 10 Aug 1987 00:00:00 +0530 Fri, 02 Jan 2026 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=144599 The Post Office Monthly Income Account requires a single initial deposit in multiples of five thousand rupees within prescribed aggregate ceilings (one lakh single, two lakhs joint). Deposits bear 12% per annum interest payable monthly; interest may be credited to the depositor's savings account subject to balance limits and does not compound if unclaimed. Funds are repayable after a six-year lock-in with a 10% maturity bonus; premature closure is allowed after one year with a 5% deduction. Nomination and pass book procedures apply, and government may relax provisions for undue hardship. Notifications Income Tax Mon, 10 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/notifications?id=144599