IRDA seeks tax sops for pension schemes

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INDIA - The Insurance Regulatory and Development Authority (IRDA) of India has asked the Indian government to exempt pension schemes from tax completely to encourage the pension funds sector to grow over seven-fold to $88.3bn in 25 years.

IRDA said that a 'tax haven' and other reform measures would ensure pension contributions going up to $88.3bn by 2025, as against $12.1bn now. We have recommended tax exemption on pension scheme...

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