Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: due date for vat payment :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES
 
 
Budget Extravaganza »
 Government should reinstate wealth tax in Budget 2017
 With demonetisation inducing tax compliance will PM Modi cut tax rates in Budget 2017?
 State plan budget utilisation in Odisha
 Maharashtra wants budget advanced to February
 Coastal economic zones may get 10-year tax exemption in next Budget
 Why advancing the Union Budget date may not make much difference
 Govt keen 2017-18 budget should not clash with polls: Arun Jaitley
 Finance Ministry seeks industry suggestions on taxation for Budget
 Budget should focus on fiscal firm up
 Finance ministry keen to present Budget on February 2 or earlier
 Poor railway performance may mar merged Budget

Post-budget, attracts more
July, 28th 2009

Tax benefits allowed in the Budget for investments made in the New Pension System (NPS) have had the desired result with the number of subscribers doubling in the last few weeks and many public sector entities approaching the regulator asking it to manage their pension corpus.

Just before the presentation of the Budget, the Pension Fund Regulatory and Development Authority (PFRDA) was struggling to get customers with less than 500 new subscribers joining the NPS in the two months after it was rolled out to all citizens on May 1, 2009.

The number of subscribers since the Budget has increased to more than 1,100, a senior PFRDA official said, adding that some public sector enterprises too have evinced interest in joining the NPS, wanting the regulator to manage their pension corpus.

"One or two public sector entities have approached us and they want their corpus to be managed by the NPS. However, discussions are at the preliminary stage and it would take a month or so for some clarity on the issue," the official said.

In the Budget, the government had accorded EET (Exempt, Exempt and Tax) status to investments made in the NPS, which meant a subscriber will only be taxed at the time of withdrawal. His investments and income on investments will be exempted till he withdrew the accumulated income. The Budget had also exempted the income of the pension trust from income tax and no levy of Securities Transaction Tax (STT) if the funds were invested in the securities market.

The NPS rolled out to general public from May 1 this year is applicable to all government employees, both state and central, since 2004. So far the PFRDA has spent Rs 1 crore on advertising and is likely to enhance the budget to Rs 8 crore to popularise NPS.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions