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Also translated in Hindi and published in Dainik Bhaskar
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Income Tax (IT) treatment of the New Pension Scheme: Fair?
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The Pension Fund Regulatory and Development Authority (PFRDA) is seeking income tax exemption for the new pension scheme - just like the Public Provident Fund (PPF).
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The new pension scheme is taxed at the time of withdrawal, even when it is a 30-35 years investment instrument. (Comepare this with PPF, which is an exempt-exempt-exempt scheme - there is no income tax at any stage).
This, when the new pension scheme is compulsory for the subscribers - unlike PPF, which is a voluntary scheme.
What do you feel - is this correct and fair? Would love to hear your opinion.
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