G.S.R. 845(E) — Post Office (Monthly Income Account) Second Amendment Rules, 2011 - Amendment in rules 8 a

What this is

G.S.R. 845(E) was published on 25 November 2011. Its subject is Post Office (Monthly Income Account) Second Amendment Rules, 2011 - Amendment in rules 8 and 9.

This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.

What it does

Acting under section 15 of the Government Savings Banks Act, 1873, the Central Government makes the Post Office (Monthly Income Account) Second Amendment Rules, 2011, further to amend the Post Office (Monthly Income Account) Rules, 1987. In rule 8, in sub-rule (1), after clause (h), a new clause (i) is inserted prescribing interest at 8.2 per cent per annum in respect of deposits made on or after 1 December 2011. In rule 9, in sub-rule (1), two further provisos are inserted: the first that, in respect of deposits made at the time of opening of an account on or after 1 December 2011, payment shall be made by the post office at which the account stands to the depositor on or after the expiry of five years from the date of opening of the account; and the second that no bonus shall be paid on deposits made in accounts opened on or after 1 December 2011.

Who it reaches

depositors opening Post Office Monthly Income Accounts on or after 1 December 2011
existing account holders, whose rate and bonus entitlement are untouched
post offices computing interest, repayment and bonus on these accounts

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.15	s.15

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Post Office (Monthly Income Account) Second Amendment Rules, 2011 - Amendment in rules 8 and 9
NOTIFICATION G.S.R. 845(E) [f.no.1/11/2011-ns-ii], dated 25-11-2011
In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office (Monthly Income Account) Rules, 1987, namely:-
1. (1) These rules may be called the Post Office (Monthly Income Account) Second Amendment Rules, 2011. (2) They shall come into force on the 1st day of December 2011.
2. In the Post Office (Monthly Income Account) Rules, 1987,—
(a) in rule 8, in sub-rule (1), after clause (h) the following clause shall be inserted, namely: -
"(i) 8.2 per cent, per annum in respect of deposits made on or after the first day of December, 2011.";
(b) in rule 9, in sub-rule (1], the following proviso shall be inserted, namely:-
"Provided also that in respect of deposits made, at the time of opening of account on or after the first day of December, 2011, shall be paid by the post office at which the account stands to depositor on or after expiry of five years from the date of the opening of the account.:
Provided also that no bonus shall be paid on the deposits made in the accounts opened on or after the 1st day of December, 2011."
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From when

1 December 2011.

What to watch

The rules come into force on 1 December 2011.
All three changes are keyed to the same date and operate only prospectively: the 8.2 per cent rate, the five-year maturity and the withdrawal of bonus apply to deposits made or accounts opened on or after 1 December 2011.
The withdrawal of bonus is absolute for accounts opened on or after that date, so the return on such an account is the interest alone.
The power exercised is section 15 of the Government Savings Banks Act, 1873, so these are not the Income-tax Rules, 1962.

Where you meet it

In the maturity and interest terms of a Post Office Monthly Income Account opened from December 2011, and in the interest shown in the depositor's return of income.

What it names

Rules it names. Rule 8, 9 of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Circular No. 3/2025 — Income tax deduction from salaries during the financial year 2024 25 under section 192 of the income tax act 1961 20 February 2025
Notification No. GSR 926(E) [F. No. 2/6/2006-NS.II], dated 24-12-2012 — Post Office Savings Account (Amendment) Rules, 2012 - Amendment in rule 4A 24 December 2012
Notification No. 323(E) — Post Office Time Deposit (Amendment) Rules, 2012 - Amendment in rule 7 25 April 2012
Notification No. 322(E) — Post Office (Monthly Income Account) Amendment Rules, 2012 - Amendment in rule 8 25 April 2012
Notification No. 321(E) — Senior Citizens Savings Scheme (Amendment) Rules, 2012 - Amendment in rule 7 25 April 2012
Notification No. 320(E) — Post Office Recurring Deposit (Amendment) Rules, 2012 - Amendment in Rules 9, 10 11 and 12 25 April 2012

← Notification No. [F.No. 1/12/2011-NS-II] · G.S.R. 842(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.