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Tax implications of amount received on closure of aps.

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(Querist)
24 July 2019 What are the tax implications of the amount received on closure of Atal Pension Scheme (APS) before the age of 60?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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Dhruvit Shah

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Dhruvit Shah (Querist)
25 July 2019 Sir you mean to say 40% will be exempt & 60% will be taxable?



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Asha Kanta Sharma

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Asha Kanta Sharma (Expert)
31 May 2020 It is taxable in the year of receipt.

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