Tax implications of amount received on closure of aps.
This query is : Resolved
24 July 2019
What are the tax implications of the amount received on closure of Atal Pension Scheme (APS) before the age of 60?
24 July 2019
Taxable. Inference -- Department of Revenue, MoF, GOI, Notification No 7/2016, F,
No.7173/394/2015-ITA-I dated 19.02.2016 :r.a.w sub section (3) of section 80 CCD
of the Income tax Ac,1961.
No.7173/394/2015-ITA-I dated 19.02.2016 :r.a.w sub section (3) of section 80 CCD
of the Income tax Ac,1961.
25 July 2019
Sir you mean to say 40% will be exempt & 60% will be taxable?
31 May 2020
It is taxable in the year of receipt.
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