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Corporate Law : Explore the evolution of pension schemes in India, from the traditional old pension scheme to the modern New Pension Scheme (NPS)....
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Corporate Law : Introduction of Systematic Lump sum Withdrawal (SLW) for the benefit of NPS Subscribers and facilitate them with smart withdrawal...
Corporate Law : Explore PFRDA Circular No. PFRDA/2024/13/SUP-CRA/07 on same-day investment for NPS contributions effective from 1st July 2024. Und...
Corporate Law : Explore the latest updates from CRAs under PFRDA for NPS/APY functionalities in FY 2023-24. Learn about new features, benefits, an...
Corporate Law : Explore the latest PFRDA Circular (No: PFRDA/2023/35/Sup-CRA/11) enabling NPS subscribers to conveniently contribute via personali...
Corporate Law : Discover the PFRDA latest circular on Systematic Lump Sum Withdrawal (SLW) for NPS Subscribers. Learn about phased lump sum withdr...
Corporate Law : Explore the PFRDA Circular on mandatory penny drop verification for NPS withdrawals and bank account updates, ensuring subscriber ...
Ministry of Finance has constituted the Technical Advisory Group for Unique Projects (TAGUP). This Committee has been constituted in pursuance of the Finance Minister’s Budget Speech 2010-11 wherein he proposed to set up a Technology Advisory Group for Unique Projects under the Chairmanship of Shri Nandan Nilekani for an effective tax administration and financial governance system through creation of IT projects which are reliable, secure and efficient.
The interim pension regulator has sought tax relief on investments in the New Pension Scheme (NPS) to make it more attractive to employees of private sector firms. The Pension Fund Regulatory and Development Authority (PFRDA) has written to the finance ministry seeking level playing field for NPS with other long-term savings schemes that will get tax benefits under the proposed Direct Taxes Code. “All we want is equal treatment,” a PFRDA official said.
The Employees Provident Fund Organisation is switching to an electronic payment system, which will allow it to credit the PF amount to the members’ bank accounts within two days of claim authorisation. EPFO is becoming more customer-friendly these days as it is trying to stave off competition from the new pension scheme, or NPS.
The Department of Posts, Government of India, has been enlisted as a Point of Presence (PoP) for distribution of the New Pension System (NPS) by Pension Fund Regulatory & Development Authority (PFRDA). The Department of Posts (DOP) would, to start with, make the NPS available at over 800 of its branches all over the country, and expand the distribution network to more branches in a phased manner in its endeavour to make NPS available to all citizens in all parts of the country.
No changes made in the Corporate Tax rates. For the Limited Liability Partnerships, the provisions of Income Tax are the same as applicable in the case of Partnership Firms formed as per the Indian Partnership Act’ 1932.