« General » Open DEMAT Account in 24 hrs  Won case against income tax department but still waiting for benefit? No more delay after an update in ITR portal  Income Tax Department regrets issuing erroneous notices to taxpayers: Know the details  Income Tax Return: Miss THIS ITR filing deadline and you will be fined Rs 10000  Tax contribution of petroleum sector set to drop rapidly in FY 2024-25  Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty  Tax regime shift: Is filing ITR under old regime still valid after default new regime?  Income Tax Department Targets Bogus Refund Claims, Issues Notices To Taxpayers  IT firms bullish on higher spending due to tax cuts  How to calculate capital gains tax on sale of land?  Don't fall for fake notices! How to verify your income tax communication  I decided to shift to the new tax regime. Will I lose benefit on interest income of my PPF account? «  Taxes worth Rs 910 cr in budget... Fiscal deficit marginally crosses revised target of 6%... » Set to get tax advantage June, 04th 2009 The finance ministry is considering to extend tax advantage (EEE status) to the New Pension Scheme (NPS) in this years Budget, according to top government officials. This will bring the government-sponsored pension scheme on a par with other long-term investment plans such as the Public Provident Fund (PPF), Group Provident Fund (GPF), Employee Provident Fund (EPF) and life insurance policies. While all these plans are exempt from tax at all the three stages of investment contribution, return and withdrawal NPS is taxed at the withdrawal stage. The Pension Fund Regulatory and Development Authority (PFRDA) has been asking for a level playing field for a long time. As per the regulator, the tax disadvantage is one of the biggest impediments in the acceptance of the NPS by the informal sector. We have been asking for an equitable tax treatment for the last two years. And this year as well we have made a request to the government to consider this in the upcoming Budget, said PFRDA chairman D Swarup.