TMI BlogPREMATURE ENCASHMENT - 8% SAVINGS (TAXABLE) BONDS, 2003.X X X X Extracts X X X X X X X X Extracts X X X X ..... ars from the date of issue. Premature encashment was not permissible under this scheme. 2. The Government of India has now vide Notifications dated July 29, 2013 and August 16, 2013, decided to provide the facility of premature encashment of these bonds to individual investors in the age group of sixty years and above, after a minimum lock-in period of three years from the date of issue as indic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y time after the 10th or 8th or 6th half-year as applicable, corresponding to the respective lock-in period, however, encashment payment will be made on the following interest payment due date. Thus, the effective date of premature encashment for the eligible investors, in case of Non-Cumulative bonds will be 1st August and 1st February every year after completion of the lock-in period as per the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .00 1395.94 10th half year 1020.00 1451.78 11th half year 1020.00 1509.85 5. We further clarify the provisions for premature encashment as under: (i) Premature encashment means encashment of entire amount invested through any single application for 8% Savings (Taxable) Bonds, 2003, which has completed minimum lock-in period, as per th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... while submitting his/her request for premature encashment. (v) The investor needs to submit a request letter along with discharge certificate in usual Form 1A, as is being obtained now, for the full amount to be prematurely encashed. 6. The premature encashment of investment may be allowed even after despatch of interest warrant, but such requests, received after despatch of interest warrants ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uing offices may take five clear working days to make the payment. 7. Suitable instructions to designated branches operating the scheme may be issued to make the changes in the system to absorb the premature encashment process. The premature encashment option may also be suitably displayed in the dealing branches. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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