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Huf - pradhan mantri pension yojana

Sandyg (Service) (33 Points)

10 October 2017

Hello,

My Father is interested in investing in Pradhan Mantri pension Yojna not as individual but under HUF (where he is the Karta for HUF). Can he put money under this scheme taking this route and if yes, what are the tax implications?

If suppose above is not an option and invest it as an individual, can he move it under HUF and how would be the tax impact ?

Thanks in advance!!!

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2 Replies

Sandyg (Service) (33 Points)
Replied 12 October 2017

Could someone please advice on the above query.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 12 October 2017

1."My Father is interested in investing in Pradhan Mantri pension Yojna not as individual but under HUF (where he is the Karta for HUF). Can he put money under this scheme taking this route and if yes, what are the tax implications?'

Ans No the benefit is not available to HUF u/s. 80CCD

2. " If suppose above is not an option and invest it as an individual, can he move it under HUF and how would be the tax impact ?"

Payment from HUF may be possible but HUF cannot take any initial tax benefit.

Maturity amount would be taxed as per NPS scheme.