Atal Pension Yojana (APY) rules allow anyone between 18 and 40 years having bank savings account to join the pension scheme. Depending on the age at the time of joining the APY scheme and the amount of pension required from age 60, the APY contribution is determined. The monthly pension from age 60 can be had for Rs 1000, Rs 2000, Rs 3000, Rs 4000 and Rs 5000, while the contributions can be made on monthly, quarterly or half-yearly basis through the auto-debit facility from the savings Bank account. After making payments and completing the transactions, you may keep track of the APY transaction statement.
On enrolling into Atal Pension Yojana, the physical transaction statement is sent once a year to the registered address i.e. the address provided by a subscriber. Annual Transaction Statement can also be had on Email.
As an APY subscriber, one may use the APY mobile application which is available for APY users free of cost to check the recent 5 contributions. One can also download the transaction statement and e-PRAN anytime without paying any charge.
To view your APY transaction statement, you need to visit the APY NSDL CRA website. You need your PRAN and savings bank account details to log in. In case, the PRAN is not readily available, you can access it using your name, account number, and date of birth.
The APY contributions qualify for tax benefit under section 80CCD (1) of the Income-tax Act, 1961.
The section ‘Contribution Details’ gives the details of the contributions processed in the APY subscriber’s account during the period. The value and other computations in the Transaction statement depend upon the date on which the Transaction Statement is accessed in the CRA system. The balances and respective narrations reflecting in your account are based on the contribution amount and details uploaded by your APY bank branch.
The auto-debit facility was paused by the government but has resumed from July 1, 2020. There is no penal interest applicable if contribution for April 2020 to August 2020 has been uploaded by September 30, 2020. It is better to view and download the APY transaction statement to get a clear picture of the transactions made.
