Atal Pension Yojana eligible for tax benefits as National Pension System

Contributions to the Atal Pension Yojana (APY) will now be eligible for the same tax benefits as the National Pension System (NPS), according to a circular released by the Income Tax department on Tuesday. The tax benefits include the additional deduction of Rs 50,000 under section 80CCD(1) introduced in last year's budget.The APY is open to Indians aged between 18 and 40 years and has a minimum tenure of 20 years. Nearly 20 lakh subscribers have...

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