Post Office Recurring Deposit (Amendment) Rules, 2013 - GSR 398(E) - Income Tax

NOTIFICATION DATED 25-6-2013 GSR 398(E) - 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 further to amend the Post Office Recurring Deposit Rules, 1981, namely: - 1. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2013. (2) They shall deemed to have come into force on the 1st day of April, 2013. @ 2. In the Post Office Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules), in rule 9, - ( a ) in the Schedule under clause ( a ) of sub-rule (1), for the last entry, the following entries shall be substituted, namely:- "From 1-4-2012 to 31-3-2013 (both dates inclusive) ....746.51 From 1-4-2013 onwards ....744.53" ( b ) in the Schedule under clause (a) of sub-rule (2), for the last entry, the following entries shall be substituted, namely:- "From 1-4-2012 to 31-3-2013 (both dates inclusive) ....746.51 From 1-4-2013 onwards ....744.53"; 3. In rule 10 of the said rules, in sub-rule (2), in items (a) and (c), for the words and figures "Tables 1, 2, 11, 13, 17, 20, 22, 26, 29, 32, 35, 38, 41, 44 or 47", the words and figures "Tables 1, 2, 11, 13, 17, 20, 22, 26, 29, 32, 35, 38, 41, 44, 47 or 50" shall be substituted. 4. In rule 11 of the said rules, in sub-rule (2), in items (b) and (c), for the words and figures "Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45 or 48", the words and figures "Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45, 48 or 51" shall be substituted. 5. In rule 12 of the said rules, - ( a ) in sub-rule (1), in item (b), in sub-item (ii), for the words and figures "Tables 5, 6, 7, 8, 9 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46 or 49", the words and figures "Tables 5, 6, 7, 8, 9,10, 15, 16, 19,24,25,28,31,34,37,40,43,46, 49 or 52" shall be substituted. ( b ) in sub-rule (3) and sub-rule (4), for the words and figures "Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46 or 49", the words and figures "Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49 or 52" shall be substituted. 6. After Table 49 of the said rules, the following Tables shall be inserted, namely: "TABLE 50 ( See Rule 10) Amount, inclusive of interest, payable on an account opened on or after the 1st,day of April, 2013 and continued, with monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7. Number of completed years for which the account continued Amount (Rupees) repayable on an account of Rs. 10 denomination One year 933.77 Two years 1139.21 Three years 1362.24 Four years 1604.37 Five years 1867.24 Note : the amount repayable on an account of any other denomination shall be proportionate to the amount specified above. TABLE 51 ( See Rule 11) Amount, inclusive of interest, repayable on an account opened on or after the 1st, day of April, 2013 and continued, without any fresh monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7. Number of completed years for which the account continued Amount (Rupees) repayable on an account of Rs. 10 denomination One year 808.27 Two years 877.47 Three years 952.60 Four years 1034.17 Five years 1122.71 Note : The amount repayable on an account of any other denomination shall be proportionate to the amount specified above. TABLE 52 ( See Rule 12) Amount, payable to legal heir or nominee on the death of the depositor in a Five Year Recurring Deposit Account opened on or after the 1st day of April, 2013. Number of deposits made Amount (Rupee) for denomination of Rs.10 Number, or deposits made Amount (Rupees) for denomination of Rs.10 1 to 11 Deposits made 36 409.00 12 125.43 37 422.52 13 136.35 38 435.49 14 147.34 39 448.55 15 158.41 40 461.70 16 169.55 41 474.95 17 180.77 42 488.28 18 192.06 43 501.70 19 203.44 44 515.21 20 214.88 45 528.82 21 226.41 46 542.52 22 238.02 47 556.32 23 249.70 48 570.21 24 261.46 49 584.19 25 273.30 50 598.28 26 285.23 51 612.46 27 297.23 52 626.73 28 309.32 53 641.10 29 321.48 54 655.58 30 333.73 55 670.15 31 346.07 56 684.82 32 358.48 57 699.59 33 370.98 58 714.47 34 383.57 59 729.45 35 396.24 60 744.53 Note : The amounts shall be proportionate for other denominations . [F.NO.2/2/2013-NS-II] @ It is certified that the interests of no deposit holder would be prejudicially affected by the retrospective effect given to the notification.