Analysis of Union Budget 2017 provisions of Income Tax Service Tax Excise Duty Custom Duty with Budget Highlights Commentary Speech, Notification, News & Articles.
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.