REGISTERED No. D. 221
The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 140] NEW DELHI, TUESDAY, OCTOBER 16, 1973/ASVINA 34, 1895
Separate paging is given to this Part in order that it may be filed
as a separate compilation
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION New Delhi, the 16th October 1973 PRIZE INCENTIVE SCHEME FOR HOLDERS OF POST OFFICE SAVINGS BANK ACCOUNTS
Rs 2,50,000
Rs. 5,00.000
Rs. 5.00,000
Rs. 10,00,000
R S. 5 , 0 0 , O OO
So. F.3(ll)-NS/72.—1. From the year 1973-74 onwards, account holders in the Post Office Savings Bank having a balance (which qualify for interest in any month of the year) of not less than Rs. 200 throughout the financial year (1st April to 31st March following) will be eligible for participation in the Draw to be held on the dates to be determined by the Government of India. There will be only one Draw in a year. Lots will be drawn under the supervision of the Government of India and the following prizes will be awarded:- 1 First prize of Rs. 2,50,000 5 Second prizes of Rs. 1,00,000 10 Third prizes of Re. 50,000 100 Fourth prizes of Rs. 10,000 1000 Fifth prizes of Rs. 500 1000 Sixth prizes of Rs. 50
Total amount of prize money in each annual draw
Rs. 5.00,000
Rs. 32,50,000
2. Eligibility—Persons having Single or Joint Accounts or Accounts in the name Of minors are eligible to participate in this Scheme. Public Accounts Security De- posit Accounts and Provident Fund Accounts in Post Office Savings Bank will not be
(1383)
1^4 T HE GAZETTE OF INDIA EXTRAORDINARY JPAHI! I—6KC. Ijeligible lor participation in this scheme. In Accounts In which a part of the amount has been 'blocked' as a 'blocked' deposit for two or three years, the 'blocked' amount shall be treated as a deposit to determine the minimum balance in the Account,
Accounts which have not been operated upon during the past 6 years and have become "silent accounts" within the meaning of Rule IS of the Post Office Savings Bank Rules, 1965, shall not be eligible for inclusion in the Draw.
No account holder will be eligible for more than one prize in each riraw.
3. Code Niimber for Eligible Accounts—A Code Numbfer for each account eligible to participate in the Draw will be given by the Post Office at which the account stands. The Code Numbers of all such accounts standing .at a Head Post Office and its Sub and Branch Post Offices under its juridictlon shall be displayed at the post'office as soon as possible after the Slst March, and atleaat one month be- fore the date of the Draw.
4. Income-Tax.—Prize money will be treated as income as defined In Claue (ix) in Section 2(24) of the Income Tax Act. 1B61 and will be liable to Income tax in accordance with the law for the time being inforce. In respect of prize money exceeding Rs. 1,000, deduction of lncome4ax will be made at source before payment.
5. Payment of Prize-Money—The holder of a prize-winning account may present bis claim together with his pass book, at any time after the date of the relative Draw, at the Post Office where the account stands along with an application in the form prescribed for this purpose by the P&T Department. A receipt will be given by the Poet Office therefor. After the claim has been admitted, payment Bhall be made by the respective Poet Office where the account stands by cheque In respect of, payments of Rs, 500 and higher denominations and in cash In respect of payments of Rs. 50. The claim must be preferred within six months from the date ol draw. Any claim received thereafter shall not VIP accepted.
6. Publication of Code Numbers of Prize-Winning: Accounts.—The particulars oi the t>rlTe-winnine accounts will be published in the Gazette of India and the Press, as soon an possible, after the date of the relative Draw. The lists of prize winning Cod" Numbers shall be displayed at the Post Offices and copies thereof can also be obtained from the National Savings Commissioner, Post Box No. 96, Nagpur, one moii, i :,rit r iho dale of the draw by sending a pelf-nddressed and stamped envelope.
7. Special Provisions—In respect of the financial year 1973-74, the eligible accounts which have a minimum balance of not less than Rs. 200 throughout the period between the 1st November, 1973 and 31st March 1974 shall qualify for pat- ticlpatinn in the first Draw to be held in July, 1974.
By Order, of the President
B MAITHREYAN. Jt. Secy.
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