Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 Income tax exemption: 4 financial instruments you can still invest into before March 31
 CBDT drops small tax demands but not TCS, TDS claims
 ITR Refund: Awaiting money from Income Tax? Here's why you have not yet received your amount
 Income Tax Notice: What to do if you receive a Section 143 (1) notice from taxman?
 Average tax return processing time cut to 10 days: CBDT
 7 types of Income Tax Notice ITR filers may receive for AY 2023-24
 ITR filing: Do these advance preparations before filing your income tax return
 What are the strategies to maximize tax refunds after submitting an income tax return (ITR)?
 ITR filing: Tax rules on income from house property that your should know
 CBDT likely to issue rules on angel tax next week
 Pension Taxation: Everything you need to know for ITR filing

ICICI Pru AMC awaits CBDT nod for retirement fund tax benefit
January, 19th 2016

ICICI Prudential Asset Management Company said it is awaiting CBDT's approval for income tax benefit under its proposed retirement fund before launching it.

As of now, the Reliance Capital AMC is the only company which has launched a retirement fund with tax benefits. The government notified Reliance Retirement Fund as 'Pension Fund' under the Income Tax Act offering tax deductions for investments up to Rs 1.5 lakh last year.

HDFC MF, which has got the Central Board of Direct Taxes' nod for tax benefit for its retirement fund, is yet to launch the product. ICICI Prudential AMC MD and CEO Nimesh Shah said the proposed retirement fund will have a mix of both debt and equity investment.

About making products available for sale online, Shah said, "We are waiting for simplified e-KYC guidelines to come from Sebi to launch products through e-commerce. The problem is the number of distributors in the e-commerce space is less while KYC for the same is complicated in the present form. I'm bullish about Aadhar-based KYC."

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting