The Government of India has brought about a few important changes to NPS (National Pension Scheme). All the changes are beneficial for the NPS investors. Some of the changes are only for the Central Government Employees while the others apply to all the NPS subscribers. Let’s go through the changes in detail. Change # 1 (Taxation of NPS Maturity proceeds) This change … [Read more...] about Good News: Lumpsum withdrawal from NPS is now exempt from tax
PFRDA, the pension regulator, had come out with Exit and Withdrawals under NPS in May 2015 and provided much needed clarity. The regulations made provisions for partial withdrawals from NPS and provided a few more options at the time of exit from NPS. At the time of exit from the NPS system, all NPS subscribers (both Government and All Citizens Model Subscribers) have the … [Read more...] about You can contribute to your NPS account even after you turn 60
Over the year and a half, NPS has attracted many new investors to its fold because of exclusive tax benefit of Rs 50,000 under Section 80CCD(1). Union Budget 2016 made the withdrawal at the time of retirement more tax friendly. Do you know these tax benefits are only limited to NPS Tier I account? What about investment in Tier II NPS account? Well, not many bother. Though … [Read more...] about Should you invest in NPS Tier II Account?
With limited withdrawal allowed before retirement, NPS is a true retirement product. The Government has also pushed NPS through greater tax incentives. Some of the benefits are exclusive to NPS investments. You can read about National Pension Scheme in detail here. NPS exit and withdrawal rules have been revised after this article was posted. You can read about revised exit and … [Read more...] about NPS Tax Benefits and Tax Treatment on maturity