Notification No. 319(E)

National Savings Certificates (IX Issue) (Amendment) Rules, 2012 - Amendment in Rules 15 and 16

What this is

Notification No. 319(E) was published on 25 April 2012. Its subject is National Savings Certificates (IX Issue) (Amendment) Rules, 2012 - Amendment in Rules 15 and 16.

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.12	s.335, s.337, s.355

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.

NATIONAL SAVINGS CERTIFICATES (IX ISSUE) (AMENDMENT) RULES, 2012 - AMENDMENT IN RULES 15 AND 16
NOTIFICATION NO.GSR 319(E), DATED 25-4-2012
In exercise of the powers conferred by section 12 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby makes the following rules further to amend the National Savings Certificates (IX Issue) Rules, 2011, namely:-
1. (1) These rules may be called the National Savings Certificates (IX Issue) (Amendment) Rules, 2012.
(2) They shall deemed to have come into force on the 1st day of April, 2012.
2. In the National Savings Certificates (IX Issue) Rules, 2011 (hereinafter referred to as the said rules), rule 15 shall be renumbered as sub-rule (1) of rule 15 and after sub-rule (1), as so renumbered, the following sub-rule shall be inserted, namely:-
"(2) Where a certificate has been purchased on or after the 1st day of April, 2012 the amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs 238.87 for denomination of Rs. 100 and at proportionate rate for any other denomination. The interest as specified in the Table below shall accrue to the holder or holders of the certificate at the end of each year and the interest so accrued at the end of each year upto the end of the fourth year shall be deemed to have been reinvested on behalf of the holder and aggregated with the amount of face value of the certificate.
TABLE

The year for which interest accrues
Amount of interest (rupees) accruing on certificate of Rs. 100 denomination

First Year
9.10

Second Year
9.93

Third Year
10.83

Fourth Year
11.81

Fifth Year
12.89

Sixth Year
14.06

Seventh Year
15.34

Eighth Year
16.74

Ninth Year
18.26

Tenth Year
19.92

Note: The amount of interest accruing on a certificate of any other denomination shall be proportionate to the amount specified in the Table above".
3. In rule 16 of the said rules,
(a) sub-rule (4) shall be renumbered as clause (i) of sub-rule (4), and in clause (i) as so renumbered, after the figures, letters and words "1st day of December, 2011", the words, figures and letters "but before the 1st day of April, 2012" shall be inserted;
(b) after clause (i) as so renumbered and the Table relating thereto, the following shall be inserted, namely:-
"(ii) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the 1st day of April 2012, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination.
TABLE

Period from the date of the certificate to the date of its encashment
Amount payable inclusive of interest (Rupees)

(1)
(2)

3 years or more, but less than 3 years and 6 months
124.60

3 years and 6 months or more, but less than 4 years
129.26

4 years or more, but less than 4 years and 6 months
134.08

4 years and 6 months or more, but less than 5 years
139.09

5 years or more, but less than 5 years and 6 months
145.20

5 years and 6 months or more, but less than 6 years
150.72

6 years or more, but less than 6 years and 6 months
156.45

6 years and 6 months or more, but less than 7 years
162.39

7 years or more, but less than 7 years and 6 months
168.56

7 years and 6 months or more, but less than 8 years
174.97

8 years or more, but less than 8 years and 6 months
181.62

8 years and 6 months or more, but less than 9 years
188.52

9 years or more, but less than 9 years and 6 months
195.68

9 and 6 months or more, but less than 10 years
203.12

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What it names

Rules it names. Rule 15, 16 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. 1/2026 — Circular No. 0 l /2026 23 March 2026
Notification No. 16/2021 [F.No. 370142/03/2021-TPL] / GSR 175(E) — Ministry of Finance 12 March 2021
Circular No. 2/2020 — Circular No. 2/2020 [F. No. 197/55/2018-ITA-I], Dated 3-1-2020 3 January 2020
Circular No. 10/2019 — P.no. 197/55/2018-ITT\-1 22 May 2019
Notification No. 318(E) — National Savings Certificates (Viii Issue) (Amendment) Rules, 2012 - Amendment in Rules 15 and 16 25 April 2012
G.S.R. 848(E) — National Savings Certificates (IX-Issue) Rules, 2011 29 November 2011

← Notification No. 320(E) · Notification No. 318(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.