Pension regulator pitches for tax incentives in upcoming Budget 2021

The pension regulator also wants tax parity for employees of state governments and private companies with those of the central government in respect of contribution to the NPS

Topics
Union Budget | Finance Ministry | pension fund

Shrimi Choudhary & Indivjal Dhasmana  |  New Delhi 

The Ministry of Finance has received suggestions from financial sector regulators in the run-up to the Budget.

While the pension fund regulator has sought to increase the income tax deduction by Rs 50,000 per person under the new pension scheme, the GIFT city regulator has pitched for easing investment by non-resident Indians. The Pension Fund Regulatory and Development Authority (PFRDA) is of view that increasing the threshold for availing of income tax deduction to Rs 1 lakh from the existing Rs 50,000 under the new pension system (NPS) would encourage more people to participate ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, January 09 2021. 06:10 IST
RECOMMENDED FOR YOU
.