In view of the epidemic coronavirus, the government has increased the investment deadline in various schemes for the tax claim for the fiscal year 2019-20 to June 30. After this provision of the government, income taxpayers can invest in National Pension Scheme (NPS), PPF and NSC till June 30 to reduce the tax deduction. Meanwhile, due to the coronavirus, pension fund regulator PFRDA has relaxed the rules related to NPS withdrawals (outright and partial). The relaxation given in the rules can be used for withdrawal once by June 30, 2020.
For your information, let us tell you that Nodal offices or NPS service providers have been asked to accept self-certified scan copy of documents sent digitally by NPS subscribers for withdrawal of funds. Also, after submission of documents by NPS subscribers, the Nodal officers / POPs will have to check the veracity of the documents and confirm the identity of the subscriber before recommending the request for their withdrawal.
Apart from this, optionally, the subscribers can also upload the documents related to the withdrawal in the CRA system before applying online for withdrawal. The same, earlier in April, PFRDA allowed NPS subscribers to withdraw funds from their NPS account for treatment of covid-19.
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