Wednesday, April 6, 2016

Atal Pension Yojana eligible for same tax benefits as National Pension System

Atal Pension Yojana which replaced the National Pension System now will be eligible for the tax benefits as it was provided for National Pension System.
  • The Tax benefits comes with additional deduction of Rs. 50,000 introduced in the last year budget.
  • Since the launch in June 2015 the Scheme It has gained 20 Lakh beneficiaries which is open to Indians aged between 18 and 40 and minimum tenure of 20 years.
  • The key feature of the scheme is the government will contribute 50% for a period of five years to the subscribers who joins before 31 March 2016.Tax payers will not come in the ambit of the scheme.

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