Relaxation of provisions for Small Savings Account holders of PPF, Sukanya Samriddhi Account (SSA) and RD. Extension of dates
The Ministry of Finance has relaxed the regulatory provisions to operate the Small Savings Schemes to safeguard the interests of small savings depositors in view of the lockdown in the Country due to COVID-19 pandemic.
The following relaxations shall become operative with immediate effect:
1. The subscribers of Public Provident Fund (PPF) and Sukanya Samriddhi Account (SSA) may now deposit their savings upto 30th June, 2020, which couldn’t be deposited in FY 2019-20 due to lockdown in the country.
2. The revival fee/ penalty charges are waived of on the PPF, SSA/ RD accounts in which mandatory minimum deposit in not made upto 31st March, 2020 subject to such deposit are made upto 30th June, 2020
3. All those PPF subscribers, whose accounts were matured on 31.03.2020 (including one year window for extension), can now be extended upto 30.06.2020.
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even…
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…