Premature closure of account
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....ccount for the complete months for which the account has been held, shall be payable. (3) Notwithstanding anything contained in sub-paragraph (2), if an account is closed any time after the expiry of two years and six months from the date of opening of the account, the amount, inclusive of interest shall be payable as specified in the table below:- 1[***] 2[TABLE-1 [Table showing premature closure value of account opened between 12th December 2019 to 31st March 2020 (both days inclusive) with 1000 rupees] Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) (1) (2) Two and half years but less than three years 1173 Three years but less than three and half years 1211 ....
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.... less than eight years 1537 Eight years but less than eight and half years 1582 Eight and half years but less than nine years 1628 Nine years but less than nine and half years 1675 Nine and half years but less than ten years 1724 Ten years but before Maturity of Certificate 1774 On maturity of certificate 2000] 4[TABLE-3 [Table showing premature closure value of account opened 5[between 1st October, 2022 and 31st December, 2022 (both days inclusive)] with 1000 rupees] Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) (1) (2) Two and half years but less than three years 1157 Three years but less than three and half years 1191 Three and half years but le....
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.... years but less than seven and half years 1524 Seven and half years but less than eight years 1570 Eight years but less than eight and half years 1618 Eight and half years but less than nine years 1667 Nine years but less than nine and half years 1718 Nine and half years but before Maturity of Certificate 1771 On maturity of certificate 2000] 8[TABLE-5 [Table showing premature closure value of account opened on or after 1st day of April, 2023 with 1000 rupees] Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) (1) (2) Two and half years but less than three years 1171 Three years but less than three and half years 1208 Three and half years but less than ....


TaxTMI
TaxTMI