Income Tax

Online withdrawal application mandatory under New Pension Scheme from 01/04/2016

Online withdrawal application mandatory under New Pension Scheme from 01/04/2016

Ministry of Finance

11th March, 2016

Online Application for Withdrawal under New Pension Scheme

The Pension Fund Regulatory and Development Authority (PFRDA) had issued a Circular dated February 25, 2015, making it mandatory for all the Nodal Offices to process the withdrawal claims of their underlying subscribers on the online platform made available on the Central Recordkeeping Agency (CRA) system from April 1, 2015. However, it was observed that majority of the withdrawal requests were still being received in physical form (without capturing online withdrawal request) resulting in delay in processing of withdrawal claims of the subscribers. Therefore, it has been decided that with effect from April 1, 2016 only such withdrawal requests raised on online platform will be accepted at CRA for further processing and settlement.

This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.

*****

 

DSM/KA
(Release ID :137816)

Share
Leave a Comment

Recent Posts

  • Income Tax

Prior period income cannot be considered as income of the current year

When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be…

5 hours ago
  • Income Tax

SC condoned delay of 972 days in filing appeal due to restructuring in Department

Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent…

20 hours ago
  • Income Tax

No addition on mere valuation report when stamp duty valuation is available

Addition can not be made relying on the valuation report of property when the stamp duty valuation is also available…

24 hours ago
  • Income Tax

ITAT deleted penalty for making a wrong claim of deduction u/s 54F/54B

Wrong claim of deduction u/s 54F/54B was not a case of concealment of particulars of income or furnishing inaccurate particulars…

1 day ago
  • GST

Value of taxable supply and rates notified Pan Masala / tobacco products

CBIC notifies GST rates and value of taxable supply for Biris, Pan Masala / tobacco products  Ministry of Finance(Department of…

1 day ago
  • Excise/Custom

CBIC issues SOP for wearing Body Cam by Custom officers in Baggage Clearance

CBIC has issued a Standard Operating Procedure (SoP) for wearing Body Cam by Custom officers responsible for Baggage Clearance According…

2 days ago