Key Points
The Department of Posts has directed post office officials to collect income proofs from certain categories of small savings schemes investors..
Medium risk - Where the customer opens account or applies for purchase of certificates or applies for credit of maturity/prematurity value of any existing savings instrument with an amount exceeding Rs 50,000 but up to Rs 10 lakh and balances in all accounts and savings certificates does not exceed Rs 10 lakh..
High risk - Where the customer opens an account or applies for purchase of certificates or applies for credit of maturity/prematurity value of any existing savings instrument with an amount exceeding Rs 10 lakh and balance in all accounts and certificates does not exceed Rs 10 lakh...
Bank/Post Office Account statement, which reflects the source of fundsAny one of the income tax returns filed during the last three financial years, which co-relates the investment in the gross incomeSale deed/Gift deed/Will/Letter of Administration/succession certificateAny other document which reflects the income/source of fund..
Apart from asking for proof of money source for certain investors, all categories of customers/investors (irrespective of their risk categories) are required to produce the following documents to do the investment:..
