Central Govt notified SAS and MPKBY agents - Rate of Commission for canvassing/securing investments in the small savings schemes
NOTIFICATION [F.NO. 1/12/2011-NS-II
DATED 25-11-2011
The Central Government hereby notifies that the authorised Standardised Agency System (SAS) and Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents for canvassing/securing investments in the small savings schemes as per the terms of agreement executed by them under the Standardised Agency System (SAS) and Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) will be paid commission at the rate indicated below:
(A) MAHILA PRADHAN KSHETRIYA BACHAT YOJANA (MPKBY)
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Rate |
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(i) Five-Year Recurring Deposit Account |
� |
4% |
(B) STANDARDISED AGENCY SYSTEM (SAS)
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(i) One-Year Time Deposit |
� |
0.5% |
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(ii) Two-Year and 3-Year Time Deposit |
� |
0.5% |
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(iii) Five-Year Time Deposit |
� |
0.5% |
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(iv) Monthly Income Account Scheme |
� |
0.5% |
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(v) Five/Six-Year National Savings Certificate (VIII-Issue) |
� |
0.5% |
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(vi) Ten-Year National Savings Certificate (IX-lssue) |
� |
0.5% |
2. Payment of commission on Public Provident Scheme (1%) and Senior Citizens Savings Scheme (0.5%) shall be discontinued.
3. Incentive, if any, paid by State/Union Territory Governments shall be reduced from commission paid by the Central Government.
4. These instructions shall take effect from the 1st day of December, 2011.
CAclubindia
Guest
Notification No : F.NO. 1/12/2011-NS-IIPublished in Income Tax