Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Senior Citizens Savings Scheme (Amendment) Rules, 2010 - Amendment in rule 8


 Notice Date : 28 July 2010

 Senior Citizens Savings Scheme (Amendment) Rules, 2010 - Amendment in rule 8

 

Notification No. G.S.R. 639(E)

Dated 28-7-2010

 

 

In exercise of the powers conferred by Section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules to further amend the Senior Citizens Savings Scheme Rules, 2004, namely : –

 

(1) These rules may be called the Senior Citizens Savings Scheme (Amendment) Rules, 2010.

 

(2) They shall come into force on the date of their publication in the Official Gazette.

 

 

In the Senior Citizens Savings Scheme Rules, 2004 in rule 8, for sub-rule 3 the following sub-rule shall be substituted, namely : –

 

“(3) In case of death of a depositor before maturity, the account shall be closed and deposit refunded on an application in Form ‘F’ alongwith interest as applicable to the scheme till the date on which the depositor expired, to the nominee or legal heirs in case the nominee has also expired or nomination as provided in rule 6 was not made, as the case may be. For the period between the day following the date of death of the depositor and the date on which refund is made, simple interest shall be paid at the rate applicable from time to time to saving accounts as provided in Rule 6 of Post Office Savings Accounts Rules, 1981”.

 

 

muskaan
on 04 August 2010
Notification No : G.S.R. 639(E)
Published in Income Tax
Source : ,










Trending Tags