TaxTMI 
TaxTMI 
Premature encashment
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....be calculated on the face value at the rate applicable from time to time to singly accounts under the Post Office Savings Account Rules, 1981, for the complete months for which the certificate has been held. The difference between the aforesaid simple interest and the interest accruing under rule 15 shall be deemed to be the discount. [(4) (i)] If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased before the 1st day of March, 2001, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination. TABLE Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) (1) (2) Three years or more, but less than three years and six months 132.00 Three years and six months or more, but less than four years 138.50 Four years or more, but less than four years and six months 145.00 Four years and six months or more, but less than five years 152.00 ....
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....fore the 1^st day of December, 2011,] the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination. TABLE Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) Three years or more, but less than three years and six months 121.15 Three years and six months or more, but less than four years 125.09 Four years or more, but less than four years and six months 129.16 Four years and six months or more, but less than five years 133.36 Five years or more, but less than five years and six months 137.69 Five years and six months or more, but less than six years 142.16] ^4[(v) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the 1st day of December, 2011, ^5[but before the 1st day of April, 2012] the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in....
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.... If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate, purchased on or after the ^12[1st day of April 2014,] the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination. TABLE Period from date of certificate to date of its encashment Amount payable inclusive of interest (Rupees) (1) (2) Three years or more, but less than three years and six months 124.24 Three years and six months or more, but less than four years 128.81 Four years or more, but less than four years and six months 133.56 Four years and six months or more, but less than five years 138.48] ^13[(ix) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the ^14[1st day of April, 2016 but before the 1st day of October, 2016] the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table belo....
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....cate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the ^20[1st day of July, 2017 but before the 1st day of October, 2017] the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination. TABLE Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) (1) (2) Three years or more, but less than three years and six months 121.82 Three years and six months or more, but less than four years 125.89 Four years or more, but less than four years and six months 130.10 Four years and six months or more, but less than five years 134.45] ^21[(xiii) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the ^22[1st day of January, 2018 but before the 1st day of October, 2018] the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount....
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....payable at the time of premature encashment may be rounded off to the nearest multiple of one rupee and for this purpose any amount of 50 paise or more shall be treated as one rupee and any amount less than 50 paise shall be ignored.] ^11[For the certificates purchased on or after 1st April, 2016, interest shall be payable at the rate notified by the Central Government, to be calculated at annual compounding basis.] ************* NOTES:- 1. Substituted vide Notification No. G.S.R. 163(E) dated 01-03-2002 w.e.f. 01-03-2002 before it was read as, "the 1st day of March, 2001," 2. Inserted vide Notification No. G.S.R. 163(E) dated 01-03-2002 w.e.f. 01-03-2002 3. Substituted vide Notification No. G.S.R.842(E) dated 25-11-2011 w.e.f. 01-12-2011 before it was read as, "the 1^st day of March, 2003" 4. Inserted vide Notification No. G.S.R. 842(E) dated 25-11-2011 w.e.f. 25-11-2011 5. Inserted vide Notification No. G.S.R. 318(E) dated 25-04-2012 w.e.f. 01-04-2012 6. Inserted vide Notification No. G.S.R. 318(E) dated 25-04-2012 w.e.f. 01-04-2012 7. Substituted vide&nbs....