Thursday, September 29, 2022
HomeFinanceAtal Pension Yojana: Big blow to the taxpayers! Government made changes in...

Atal Pension Yojana: Big blow to the taxpayers! Government made changes in Atal Pension Yojana; rules changed for the second time

Atal Pension Yojana Calculator: Under the new rule of the government, now income tax payers cannot apply for Atal Pension Yojana. This rule will come into effect from 1 October 2022.

Atal Pension Yojana Calculator: The government has made a big change in the Atal Pension Yojana, the ambitious scheme of the Modi government. A notification has also been issued by the Finance Ministry regarding this change. Under the new rule, income tax payers will no longer be able to apply for Atal Pension Yojana (APY). This rule of the government is being considered as a big setback for the income tax payers. Atal Pension Yojana is a better option for those who want a secure life after retirement.

The government will also review from time to time

According to the notification issued by the Finance Ministry, this rule will be applicable from October 1, 2022. After this, any person who is an income tax payer according to the Income Tax Act cannot apply. If he is found doing so, his account will be closed immediately. Also, the money deposited till that time will be transferred to his account. It will also be reviewed from time to time by the government to ensure that there is no discrepancy in it.

5 thousand rupees pension every month!

According to the existing rules, if you are a citizen of India, you are between 18-40 years of age and have a savings account with a bank or post office, then you can apply for APY. Let us tell you that after investing in Atal Pension Yojana (APY), there is a provision to get a pension of up to 5 thousand rupees every month after the fixed age limit.

Joined over 4 crore subscribers

According to the data released by the Pension Fund Regulator (PFRDA), more than 4 crore subscribers have been added to this scheme. PFRDA said that in the financial year 2021-22, about one crore people have opened APY accounts. With this, the number of subscribers of the scheme has increased to 4.01 crores till March 31, 2022.

This change happened for the second time

This scheme was launched by the government in 2015. The government had started APY keeping in mind the people working in the unorganized sector. But later it was changed and now any Indian citizen between 18 to 40 years can register in it. Once again after the change in this scheme, now the income tax payers cannot be a part of it.

Pension after 60 years of age

Pension starts getting in the scheme after the age of 60 years. How much you have to invest for this, it depends on your age. There is a provision to get a minimum monthly pension of Rs 1,000 and a maximum of Rs 5,000 per month in APY. The sooner you start investing in this, the more you will benefit.

To join the scheme at the age of 18, you have to deposit Rs 210 every month till the age of 60 years. With this you will get 5000 rupees every month after the age of 60 years. Similarly, for a pension of Rs 1000, Rs 42, Rs 84 for a monthly pension of Rs 2000, Rs 126 for a pension of Rs 3000 and Rs 168 for a pension of Rs 4000 will have to be deposited every month.

Read Also: Big update related to PM Kisan Yojana, 12th installment will come in the account on this day

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz.com
RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments