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Changes in the rules of post office small savings schemes, these documents will have to be shown to invest

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New Delhi : There is important news for investors investing in post office small savings schemes. A notification has been issued by the Department of Posts, stating that investors will have to show their source of income if they invest more than a certain limit in small savings schemes.

Why did the post office issue the notification?

In the notification issued by the post office, it has been said that the AML/CFT of the post office. The relevant guidelines have been modified to comply with Financial Intelligence Unit-India (FIU-IND) and Financial Action Task Force (FATF) norms. ,

The amendment aims to prevent the use of post office small savings schemes for money laundering and financing terrorist activities.

As per the new guidelines, customers are divided into three profiles. First low risk (maturity value of investment not more than 50,000), second medium risk (maturity value of investment not more than 10 lakh) and high risk (maturity value of investment more than 10 lakh).

High risk investors have to disclose the source of funds

While investing in the post office, high risk investors will have to disclose where the money came from and submit documents for the same.

What documents have to be shown?

Bank statement

Income tax return of last three years

Sale Deed / Gift Deed / Will / Succession Certificate

Any other document from which your source of income can be easily traced.