pension scheme

A number of representations have been received regarding deduction under Section 80 CCD for contribution made under pension scheme in the light of Circular No-1 /2010 dated 11th Jan’2010 issued on the subject of Deduction of Tax at Source etc. Full Article

When it comes to social security measures, India is still considered to be an evolving country even after more than sixty years of independence. Central Government has announced a new pension scheme (NPS) w.e.f. 1st May, 2009 established under Pension Fund Regulatory and Development Authority. The scheme has been in operation for government employees since 2004 but has been only now opened to Indian citizens which will benefit all citizens, particularly those in private .. Full Article

The Government of India has recently made fundamental changes in the Employees Provident Fund Scheme, 1952 and the Employees Pension Scheme, 1995 (collectively referred to as Indian Provident Fund schemes) which will impact the expatriates and the employers with whom they work in India. Full Article

Employers may soon be required to make mandatory provident fund contributions to workers with a salary of up to Rs 15,000 a month instead of Rs 6,500 at present. Union labour minister Mallikarjun Kharge is likely to ratify a proposal to this effect on Saturday, when he presides over a meeting of the Employees' Provident Organisation's Central Board of Trustees. Full Article

All we need to do is to bring some changes in our habits and do the tax planning for the financial year 2009-10 in advance. Moreover before one decides for tax saving one should look into the all the list of probable deductions under which one gets benefits of tax saving. Full Article