Indian citizens who pay income tax will not be eligible to join the Atal Pension Yojana (APY) from October 1, 2022. In addition, if any person who is a taxpayer or has been a taxpayer, opens an APY account post October 1, it will be closed, and the balance will be refunded.
Adhil Shetty, CEO of Bankbazaar.com, a financial services provider, says taxpayers can enroll for APY by the cut-off date of September 30, but accounts opened on October 1 or later shall be closed, and the balance amount, if any, would be returned.