Discontinuation of physical mode of National Savings Certificate KVP and NSC shall stand discontinued w.e.f. 1-4-2016 - Income Tax - F.NO.1/04/2016-NS.II

OFFICE MEMORANDUM F.NO.1/04/2016-NS.II], DATED 1-4-2016 The undersigned is directed to refer to this Department's OM of even number dated 23rd March, 2016, through which guidelines regarding discontinuation of physical mode of National Savings Certificate and Kisan Vikas Patra certificate and introduction of e-mode were communicated. It was decided that the currently existing system of physical pre-printed certificates for KVP and NSC shall stand discontinued w.e.f. 1-4-2016 and shall be replaced by 'National Savings Certificate/Kisan Vikas Patra Certificate on electronic - mode (e-mode). Till the CBS system transits to that e-mode, banks and post offices may choose to issue a physical certificate recorded on a passbook. 2. The serial numbers based on the new pattern allotted to the banks and the Department of Posts (DoP) with respect to KVP and NSC were detailed in the said OM. It is intimated that while issuing the certificate from 1-4-2016, Banks and Post Offices may use notification having G.S.R. No. 353(E), dated 29-3-2016 for Kisan Vikas Patra and notification having G.S.R. No. 354(E), dated 29-3-2016 for National Savings Certificate. It is intimated that these notifications are available on egazette.nic.in.