Fees for non-maintenance of minimum balance in Post Office Saving A/c reduced from Rs. 100 to Rs. 50

The Central Government has amended the Post Office Savings Account Scheme, 2019 to reduce the amount to be deducted for non-maintenance of minimum balance in a saving account. Non-maintenance fee is reduced from Rs. 100 to Rs. 50 (including GST) if an account holder fails to maintain minimum balance of Rs. 500. Further, the beneficiaries of this Scheme has been permitted to open and operate Basic Savings Account.The Central Government has amended the Post Office Savings Account Scheme, 2019 to reduce the amount to be deducted for non-maintenance of minimum balance in a saving account. Non-maintenance fee is reduced from Rs. 100 to Rs. 50 (including GST) if an account holder fails to maintain minimum balance of Rs. 500. Further, the beneficiaries of this Scheme has been permitted to open and operate Basic Savings Account.taxmann.com Latest Statutory HappeningsRead More

Leave a Reply