How the FM has created confusion about retirement products
July 22, 2014
The Union Budget 2014-15 has talked about retirement saving products and in the process created confusions
JASON MONTEIRO
The maiden budget of Narendra Modi-led National Democratic Alliance (NDA) government mentions on page 12 that that there would be a “uniform tax treatment for pension and mutual fund linked retirement plans”. However, neither the actual budget speech of Arun Jaitley, the finance minister nor the Finance Bill 2014 makes any mention of it. Similarly, there is confusion on the applicability of tax benefits for private sector employees who have invested in New Pension System (NPS) schemes.
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