• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • DoPT
  • MACP
  • OROP
  • CSD
  • CG News Android App

CENTRAL GOVERNMENT EMPLOYEES NEWS

All about Central Government Employees News. Get the central govt employees latest news, DoPT Orders, 7th Pay Commission, DA Hike, latest notification for pensioners, MACP latest order, da for central government employees, and more.

  • 7th CPC
  • Railways
  • Pension
    • Retirement Age
  • Expected DA
    • Dearness Allowance
    • Dearness Relief
  • Defence
    • CGDA
  • EPFO
    • Employees News
      • KV School
      • Promotion
      • Maternity Leave
      • Reservation
      • LTC
    • ESIC
  • CGHS
  • MACP
  • Postal Dept
You are here: Home / General news / Tax exemption for withdrawals under the National Pension System (NPS)
  • Flash News - Grant of Non-Productivity Linked Bonus to Central Government Employees

    Flash News - Grant of Railway Bonus 2020

    Flash News - Postal Employees Bonus 2020

    Flash News - Bonus for EPFO Employees 2020

    Central Government Offices Holiday List 2021

    No DA/DR to Central Government employees till July 2021

    Expected DA from January 2021

    7th Pay Commission Latest News 2021

    Latest DoPT Orders 2021

    MACP FOR THE CENTRAL GOVERNMENT CIVILIAN EMPLOYEES

Tax exemption for withdrawals under the National Pension System (NPS)

October 16, 2014 by admin

PFRDA will soon approach Finance Ministry seeking tax exemption for withdrawals under the National Pension System (NPS),

Pension regulator to pitch for tax break on NPS withdrawals

Pension regulator PFRDA will soon approach Finance Ministry seeking tax exemption for withdrawals under the National Pension System (NPS), its Chairman Hemant G Contractor has said.

This will be the first time PFRDA – after getting statutory recognition in February 2014 – will seek a tax break for NPS.

The Finance Ministry will soon start the budget preparation exercise for Budget 2015-16, which will be the first comprehensive budget of the new Modi-Government.

Prior to the statutory recognition, the interim pension regulator had sought tax exemption on NPS withdrawals, but that tax break was not provided by the erstwhile UPA Government.

In his first interaction with mediapersons here on Wednesday, the new PFRDA Chairman, Contractor said there was need for some “fiscal” push from the Government to make NPS popular in the country.

A tax exemption on NPS withdrawals would address the “adequacy” aspect of retirement monies and ensure that taxes don’t eat into the retirement corpus of a subscriber.

Under the current income tax law, there is no tax incidence on contribution or accumulation phase, but tax would be levied at the withdrawal stage

A tax exemption on NPS withdrawals would level the playing field with products such as provident funds.

The direct taxes code proposed by the UPA regime had suggested that ‘Exempt-Exempt-Exempt’ regime be adopted for financial savings products like NPS.

Indications are that the new dispensation at the Centre will look to bring its own version of new income-tax law.

SWAVALAMBAN

PFRDA Chairman Contractor said the Swavalamban scheme has been made an integral part of the Pradhan Mantri Jan Dhan Yojana (PMJDY), the flagship financial programme of the Modi-led Government.

PFRDA has fixed a target of fifty five lakhs subscribers of Swavalamban under PMJDY.

This target of fifty five lakhs subscribers has been allocated to all the banks working as aggregators. Targets have also been allocated to other categories of aggregators.

Source: www.thehindubusinessline.com

#Income Tax, #Income Tax Exemption, #National Pension System, #New Pension Scheme, #NPS, #PFRDA

Related to Your Search:

  • Government will soon start the selection process for the new PFRDA chairman
  • Panel to submit report on one regulator for pension products
  • PFRDA: Let government staffs pension funds to invest 50% in equities
  • Vision & Mission Statement of PFRDA
  • Finance Minister launches New Website of PFRDA on 26th August, 2014.
  • Age Limit for NPS
  • Information sought by PFRDA on existing pension/superannuation schemes from CPSEs
  • 7th Pay Commission to get Cabinet nod soon, here’s why you will get 10 per cent less arrears in hand
  • Government May Allow Employees To Raise NPS Fund In Stocks Soon

Filed Under: General news, Income Tax, Pension

Primary Sidebar

Important Central Government Employees Orders

  • MACP Scheme for Original Order Dated May 2009
  • 7th Pay Commission Revised Pay Matrix Table for Central Government Employees – Pay Matrix Level 12
  • CSD Military Canteen Products List 2020
  • CSD - Eligibility to buy cars 2020

Archives – CG News

Categories

  • 6CPC (162)
  • 7CPC (2,005)
  • 8th Pay Commission (4)
  • Additional DA (4)
  • AICPIN (139)
  • Allowance (345)
  • Bonus (197)
  • BSNL (80)
  • CCS (171)
  • Central Government Jobs (172)
  • Central Govt Holiday Homes (4)
  • CGDA (105)
  • CGHS (415)
  • CPSE (48)
  • CSD (70)
  • CSS (112)
  • DA Over 50% (124)
  • Dearness Allowance (613)
  • Dearness Relief (51)
  • Defence (534)
  • Directorate of Estates (57)
  • DOPT Orders (1,289)
  • Employees News (2,391)
  • EPFO (183)
  • ESIC (26)
  • Expected DA (396)
  • expected da january 2020 (9)
  • General news (1,969)
  • GST (48)
  • Holidays (160)
  • HRA (72)
  • Income Tax (219)
  • IT Exemption (88)
  • KV School (242)
  • Latest News (1,275)
  • LDC-UDC (72)
  • Leave Rules (15)
  • Loan (16)
  • Lok Sabha Elections 2019 (15)
  • LTC (194)
  • MACP (228)
  • Maternity Leave (8)
  • NPS (69)
  • OROP (156)
  • Pension (1,160)
  • Postal Department (380)
  • Promotion (197)
  • Railways (1,405)
  • Rank Pay (57)
  • Reservation (88)
  • Retirement Age (185)
  • Uncategorized (1)

Recent Comments

  • K.A.N.Talpasai on Expected DA 2021 – Expected DA from January 2021 will be approximately 27%
  • Victoria Hampton on CPAO – Submission of Life Certificate by NPS-AR pensioner through Jeevan Pramaan
  • SHAINY GEORGE on DOUBT and CLARIFICATION on MACPS – Central Government Employees News
  • JIS MATHEW GEORGE on IMPLEMENTATION OF HONARABLE SUPREME COURT ORDER ON MACP SCHEME
  • FIROJBHAI on Pension Call Centre – New Toll Free Number

7th CPC DA Arrears Ready Reckoner Tables for all Level

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-1 (GP 1800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-2 (GP 1900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-3 (GP 2000)

  • 7th CPC DA DA Arrears Ready Reckoner Tables for Level-4 (GP 2400)

  • 7th CPC DA DA Arrears Ready Reckoner Tables for Level-5 (GP 2800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-6 (GP 4200)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-7 (GP 4600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-8 (GP 4800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-9 (GP 5400)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-10 (GP 5400)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-11 (GP 6600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-12 (GP 7600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-13 (GP 8900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-13A (GP 8900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-14 (GP 10000)

Pay Matrix Table for Air Force PBORs

7th Pay Commission Option Form Ready Reckoner For All Grade pay

central government news
Follow us on : facebook-central-government-news twitter-central-government-news pinterest-central-government-news

Footer

Central Government Employees News | Central Government News | Central Govt Employees News | Central Government Jobs & Orders | Central Government Latest News | central government employees news latest update | expected pay central govt employees | latest news macp central govt employees | Central govt employees news 7th pay commission

central government employees news

Central Government News App for Android Users – Free!! Download Now

 

7th CPC | CGDA | CGHS | CPSE | CSD | CSS | Dearness Allowance | Dearness Relief | Defence | DOPT Orders |
EPFO | ESIC | Expected DA | GST | Holidays | HRA | Income Tax | KVS | Leave Rules | LTC | MACP |
Maternity Leave | NPS | OROP | Pension | Postal Department | Promotion | Railways | Rank Pay | Reservation | Retirement Age

Copyright © 2021 · Magazine Pro on Genesis Framework · WordPress · Log in