Guide On COVID-19 Induced Withdrawal 

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Guide On COVID-19 Induced Withdrawal 

Pursuant to Section 94, subsection (4) of the Income Tax (Amendment) Act, 2020 which states that:
'' A withdrawal from a provident fund or personal or personal pension before retirement age by reason of the COVID-19 Pandemic by,

(a) an employee due to loss of permanent employment; or
(b) a self-employed person from the personal savings account provided for under paragraph (a) of subsection (2) of the section 109 of the National Pension Act,2008(766), is exempt from income tax''

By | 2020-05-14T08:59:30+00:00 May 14th, 2020|0 Comments

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