https://www.taxtmi.com/notifications?id=144641 The Scheme creates a Monthly Income Account allowing single, joint, minor and guardian accounts with a single deposit (multiples of Rs. 1,000), capped at Rs. 450,000 (single/minor) and Rs. 900,000 (joint), bearing interest at 7.6% per annum payable monthly; excess deposits are refunded with Post Office Savings Account rate interest. Premature closure after one year is allowed with a 2% penalty if closed on or before three years and 1% thereafter; maturity payment follows five years. Forms prescribe opening, closure and nomination procedures and KYC requirements. en-us Thu, 12 Dec 2019 00:00:00 +0530 Tue, 06 Jan 2026 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=144641 The Scheme creates a Monthly Income Account allowing single, joint, minor and guardian accounts with a single deposit (multiples of Rs. 1,000), capped at Rs. 450,000 (single/minor) and Rs. 900,000 (joint), bearing interest at 7.6% per annum payable monthly; excess deposits are refunded with Post Office Savings Account rate interest. Premature closure after one year is allowed with a 2% penalty if closed on or before three years and 1% thereafter; maturity payment follows five years. Forms prescribe opening, closure and nomination procedures and KYC requirements. Notifications Income Tax Thu, 12 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/notifications?id=144641