MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

New Delhi, the 29th March, 2016

G.S.R. 353(E).–In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules to amend the Kisan Vikas Patra Rules, 2014, namely:—

1. (1) These rules may be called the Kisan Vikas Patra (Amendment Rules), 2016.

(2) They shall deemed to have come into force on the 1st day of April, 2016.

2. In the Kisan Vikas Patra Rules, 2014 (hereinafter referred to as the said rules), in rule 16, in sub-rule (1), for the words eight years and four months, the words nine years and two months shall be substituted.

3. In the said rules, in rule 17, in sub-rule (3), the premature encashment value of Certificates purchased on or after 1.4.2016 but on or before 30.6.2016 shall be:-

TABLE

Period from the date of the certificate to the date of its encashmentAmount payable inclusive
of interest (Rupees)
(1)(2)
Two and half years but less than three years1180
Three years but less than three and half years1220
Three and half years but less than four years1261
Four years but less than four and half years1303
Four and half years but less than five years1347
Five years but less than five and half years1392
Five and half years but less than six years1439
Six years but less than six and half years1487
Six and half years but less than seven years1537
Seven years but less than seven and half years1589
Seven and half years but less than eight years1643
Eight years but less than eight and half years1698
Eight and half years but less than nine years1755
Nine years but before the maturity of Certificate1814
On maturity of certificate2000

[F. No. 1/4/2016-NS-II]

PRASHANT GOYAL, Jt. Secy.

Note : The principal rules were published vide G.S.R. 705(E), dated the 23rd September, 2014.

Posted Under

Category : Income Tax (20858)
Type : Notifications (12044) Notifications/Circulars (24483)