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NPS scheme: You would receive a Rs 50,000 income tax advantage

Income Taxpayers are looking for ways to save money as the fiscal year comes to a conclusion on March 31. By investing in NPS, you would obtain an exclusive tax deduction advantage of Rs 50,000, according to the pension fund governing body PFRDA.

According to the Pension Fund Regulatory and Development Authority, investing in NPS becomes more attractive with the special extra tax advantage of Rs 50,000. (PFRDA).

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The Government of India formed the Pension Fund Regulatory and Development Authority to govern NPS and any other pension system not covered by another enactment.

INCOME TAX BENEFITS FOR NPS

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1. NPS investors are eligible for a number of tax breaks.
2. Investors can benefit from tax exemption when their investments mature.
3. The accumulated sum is likewise free from income tax.
4 When investing, one might benefit from income tax exemption.

SCHEME OF NPS

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The National Pension Scheme (NPS) is a type of voluntary retirement savings scheme.

The applicant must be between the ages of 18-70  as of the date of application submission and must meet the KYC requirements.

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The applicant has the option of selecting his or her own investment option and pension fund or opting for auto-selection to maximise results.

Applicants can access their accounts from any location in the country.

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