| 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.
Maintenance, archival and submission of Audit File to National Financial Reporting Authority (NFRA) - Points of compliance by the audit…
Rejecting condonation of delay and dismissing appeal without verifying medical certificates – ITAT sets aside order of CIT(A) In a…
Common Area Maintenance (CAM) Charges cannot, by any stretch, be construed as payment of rent liable to TDS under section…
SC upheld that merely producing audit objection in order u/s 148A(d) ignoring reply of assessee is non application of mind…
In an insurance claim if it is established that damage was caused by fire, then reasons by which the fire…
CBDT assigns jurisdiction of CIT(Appeals) in pursuance of assessments completed in pursuance to search u/s 132, requisition u/s 132A or…