(Department of Economic Affairs)
| Type of Account | Who may open the account | Deposit required for opening of account | Number of accounts that can be opened | Type of deposits that can be made into the account | Minimum balance to be maintained in the account | Who may operate the account |
| (1) | (2) | (3) | (4) | (5) | (6) | (7) |
| Basic Savings Account |
(i) Registered adult member of any Government Welfare Scheme; (ii) Guardian of a minor whose name is registered for any Government Benefit |
Nil | One | Any Government benefit or any other deposit under the scheme | Nil |
(i) An individual adult whose name is registered for any Government Welfare Scheme; (ii) guardian of any minor whose name is registered under any Government Welfare Scheme |
(4) Any Basic Savings Account opened/under the Post Office Savings Account Rules,1981 shall remain operational.”;
(ii) in paragraph 4, in sub-paragraph (6), for the words “one hundred rupees”, the words and brackets “fifty rupees (inclusive of Goods and Services Tax)” shall be substituted.
[F.No.14/8/2019-NS (Pt.I)]
RAJAT KUMAR MISHRA, Addl.Secy.
Note: The principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G. S. R. 921 (E), dated the 12th December, 2019.
- Reassessment quashed as alleged transaction were reflected in Income Tax Returns
- EPFO invites RFP for appointment of CA Firm for FY 2024-25. Last date to apply: 31.03.2025
- Penalty quashed as show cause notice & personal hearing decided in 48 hours
- ITD can’t suo motu issue a new PAN when assesseee have a valid PAN
- For Sundry creditors creditworthiness is not an essential point for examination
