Rule 13: (3) Recovery from emoluments –
interest from the first day of the
month in which it is deposited.
Forwarded by subscriber –
- if the date of deposit before 5th of a month,
interest from the first day of that month
- if the date of deposit after 5th of a month,
interest from the first day of next month.
In case of Foreign service
- date of deposit should be 15th of that month.
In case of Final Payment, Interest will be calculated upto the preceding month of payment in case of administrative delay.( G.O.Ms.No.3, Fin.,Dt.08.01.2007) (5) Interest shall not be credited to the account of a Muslim subscriber, if he informs the AO that he does not wish to receive it • (6) Over drawn amount – amount with 22 ½ % interest or above on it will be recovered in one lumpsum / in monthly instalments, each installment should not be more than Half of (pay+DA).
In case of Final Payment, Interest will be calculated upto the preceding month of payment in case of administrative delay.( G.O.Ms.No.3, Fin.,Dt.08.01.2007) (5) Interest shall not be credited to the account of a Muslim subscriber, if he informs the AO that he does not wish to receive it • (6) Over drawn amount – amount with 22 ½ % interest or above on it will be recovered in one lumpsum / in monthly instalments, each installment should not be more than Half of (pay+DA).