Description
Taxmann Government Savings Promotion Act 1873 with Public Provident Fund Scheme 2019 – Bare Act with Section Notes by Taxmann's Editorial Board
Government Savings Promotion Act 1873 with Public Provident Fund Scheme 2019 [Bare Act with Section Notes] by Taxmann is a consolidated legal text focusing on two key legislative frameworks that govern savings schemes under the Government of India:
Government Savings Promotion Act, 1873 – This Act establishes the legal basis for various government-backed savings instruments, specifying how deposits are handled, the rights of depositors, nomination rules, payments on death, and protections from attachments and liabilities
Public Provident Fund Scheme, 2019 – This Scheme details operational guidelines for the Public Provident Fund (PPF). It covers account opening, contributions, interest rates, withdrawals, extensions, and premature closure provisions
The text is presented as a Bare Act, supplemented by concise section notes to clarify legislative intent, recent amendments, and interpretative points. This 2025 Edition incorporates the latest amendments, ensuring readers stay current with updated legal provisions.
This book is intended for the following audience:
Legal Professionals – Advocates, solicitors, and law firms requiring a quick reference to the statutory text and relevant notes
Judges and Quasi-Judicial Bodies – For court references and legal proceedings related to savings disputes or litigation
Banking & Financial Professionals – Officers in banks, post offices, and financial institutions needing the authoritative text for compliance and operational guidance
Academics and Students – Law students, researchers, and financial studies scholars analysing savings laws and the PPF Scheme
Government and Regulatory Authorities – Policymakers, regulators, and enforcement agencies seeking clarity on policy frameworks and statutory mandates
General Public & Depositors – Individuals who hold or plan to open savings or PPF accounts, wishing to understand their rights, obligations, and protections
The Present Publication is the 2025 Edition, covering the amended and updated text of the Government Savings Promotion Act [Act No. 5 of 1873] and PPF Scheme, with the following noteworthy features:
[Bare Act Text] Presents the verbatim language of the Government Savings Promotion Act, 1873, and the Public Provident Fund Scheme, 2019 for exact legal references
[Updated with Amendments] Reflects the latest changes introduced by recent Finance Acts and notifications, ensuring accurate and up-to-date content
[Pre-amendment Provisions] Incorporates the text of provisions as they existed prior to the amendment in the respective amendment footnotes, enabling the reader to understand the legal position before the amendment and its applicability during the pre-amendment period
[Section Notes] Offers concise insights into each section or rule—highlighting definitions, commentary on key terms, and explanatory remarks
[Practical Forms & Schedules] Includes specimen forms for PPF account operations (opening an account, withdrawals, loans, closure, extension), enabling practitioners and account holders to understand the procedural requirements
[Subject Index] A user-friendly index that helps readers locate specific clauses and sub-sections quickly
[Easy Navigation] Clear headings, subheadings, and enumerated clauses improve readability
[User-friendly Approach] Despite being a bare-act compilation, the organised layout and section notes make it approachable for non-lawyers as well
The structure of the book is as follows:
Main Acts and Schemes
Full text of the Government Savings Promotion Act, 1873, presented section-wise
Text of the Public Provident Fund Scheme, 2019, in a separate part, complete with relevant Forms
Section-by-Section Notes – Located directly after each section or clause, summarising legislative intent, referencing prior amendments, and highlighting key takeaways
Subject Index – A detailed index at the end maps each important keyword to relevant page numbers/sections
Forms & Schedules – Cleanly laid-out forms to illustrate practical compliance steps