National Pension Scheme : If you invest in this scheme before the end of the financial year, an income tax benefit of Rs 50,000 will be available. The applicant has the option to choose his/her own investment option and pension fund or opt for auto option to get better returns.
NPS SCHEME: If the financial year is going to end on 31st March, then income taxpayers must be looking for tax saving options. In such a situation, the Pension Fund Regulatory Body (PFRDA) said that you will get an exclusive tax deduction benefit of Rs 50,000 on investing in NPS
According to the Pension Fund Regulatory and Development Authority (PFRDA) , investing in NPS becomes more beneficial with a special additional tax benefit of Rs 50,000.
The Pension Fund Regulatory and Development Authority (PFRDA) has been established by the Government of India to regulate NPS and any other pension scheme (PENSION SCHEME) which is not regulated by any other Act.
NPS Income Tax Benefits
- Investors can avail various types of exemptions in NPS.
- Investors can avail tax exemption at the time of maturity.
- The accumulated amount is also exempted from income tax.
- One can avail income tax exemption at the time of investment.
- NPS is a voluntary retirement savings scheme.
- Applicant’s age should be between 18-70 years as on the date of submission of application
- Must follow the prescribed KYC norms.
- Applicant gets his own investment option to get better returns
- There is an option to choose pension fund or choose auto option.
- Applicants can operate their account from anywhere in the country.
