National Pension System Scheme, New Scheme 2021

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National Pension System Scheme

National Pension System Scheme (NPS) is a voluntary defined contribution pension system in India which is applicable all over India. The National Pension System, like PPF and EPF, is an EEE (exempted) in India, where the entire fund evades tax at maturity and the entire pension withdrawal amount is paid. is tax free. This scheme was made for government employees only, now it has been opened to all citizens of India.18 and 65 in 2009 for OCI card holders and PIOs in October 2019. Contribution under Tier-2 of NPS is covered under section 80C for deduction of Rs. 1.50 lakh for income tax benefit, provided there is a lock-in period of three years. The change in NPS was notified through a change in the Income Tax Act, 1961 during the 2019 Union Budget of India. EEE is limited to the 60% NPS limit. 40% has to be compulsorily used to purchase annuity, which is taxable in the applicable tax slab. Contribution to NPS provides tax exemption under Section 80C, Section 80CCC and Section 80CCD (1) of the Income Tax Act. Starting in 2016, an additional tax benefit of Rs 50,000 is provided under NPS under Section 80CCD (1B), an exemption of more than Rs 1.5 lakh under Section 80C. Private fund managers are important parts of NPS. NPS is considered to be one of the best tax saving instruments, as the corpus was exempted 40% at the time of maturity and was funded by equity-linked savings scheme (ELSS). Is placed just below.

National Pension System Official Website Link

Official Website :- Link Here

About Us :- Link Here

Regulatory Framework:- Link Here

System Nps :- Link Here

System Intermediaries :- Link Here

Contact Us :- Link Here

National Pension System Scheme

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