Tax implications of amount received on closure of aps.
This query is : Resolved
Dhruvit Shah
(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?
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.
Dhruvit Shah
(Querist)
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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