Decisions on the recommendations of the Committee for Comprehensive Review of National Small Savings Fund (NSSF) by finance ministry in repsect of commission to be paid to post office agents .

Commission to Post Office Agents

(i)                 Payment of commission on PPF schemes (1%) and Senior Citizens Savings Scheme (0.5%) will be discontinued.

(ii)             Agency commission under all other schemes (except MPKBY agents) will be reduced from existing 1% to 0.5%.

(iii)             Commission at existing rate of 4% will continue for Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents.

(iv)              Incentives, if any, paid by the State/UT Governments will be reduced from the commission paid by the Central Government.

Notification for effective date for these are expected very soon.

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Category : Income Tax (20531)
Type : Featured (3499) News (10763)
Tags : PPF (68)

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