National Pension Scheme: Busting The Common Myths About NPS
1 month, 3 weeks ago

National Pension Scheme: Busting The Common Myths About NPS

ABP News  

By Kurian Jose The National Pension System offers great tax-saving opportunities, but there are myths that often confuse potential investors. Myth 1: NPS Tax Benefits Are Just Like Other Investments Reality: NPS offers unique tax benefits beyond the traditional Section 80C: Section 80 CCD : Up to Rs 1.5 lakh. Myth 6: You Cannot Invest in NPS If You’ve Exhausted Section 80C Limit Reality: Under the old tax regime; even if you’ve maxed out your Rs 1.5 lakh Section 80C limit, you can still claim an additional Rs 50,000 deduction under Section 80CCD and up to 10 per cent of your basic salary under the old tax regime under Section 80CCD. Myth 8: Only Salaried Employees Get NPS Tax Benefits Reality: Both salaried and self-employed individuals can enjoy tax benefits under Sections 80CCD and 80CCD. Myth 11: NPS Tax Benefits Are Complicated Reality: NPS tax benefits might sound technical, but they’re straightforward when broken down: Contribution: Tax deductions up to Rs 2 lakhs + 80CCD).

Benefits Tax Old Cent Regime Benefit Pension Scheme Nps Tax Benefits Basic Salary Nps Tax Benefits  tax  common  busting  rs  nps  salary  pension  scheme  national  cent  benefit  savings  benefits  regime  myths  old

History of this topic

Why NPS should be a part of your retirement plan? 5 things to know
3 weeks, 5 days ago

Why NPS should be a part of your retirement plan? 5 things to know

India Today  

Retirement planning is essential to a stress-free and financially secure future. Higher Returns with NPS When compared to traditional fixed-income investments like fixed deposits and Public Provident Funds, NPS offers superior returns over the long run. Investments under NPS are overseen by qualified pension fund managers, ensuring the majority of your contributions are invested towards wealth creation rather than paying …

New tax regime: 3 deductions that can help taxpayers maximise savings
1 month ago

New tax regime: 3 deductions that can help taxpayers maximise savings

India Today  

The government, with the aim of simply personal taxation, introduced the new tax regime. Out of the total 7.28 crore ITRs filed, 5.27 crore were under the new regime, while 2.01 crore were filed under the old tax regime for AY 2024-25, indicating nearly 72% of taxpayers have shifted to the new system. Though the new regime offered concessional tax …

Invest in NPS or EPF? Experts explain benefits of retirement savings schemes
1 month ago

Invest in NPS or EPF? Experts explain benefits of retirement savings schemes

Hindustan Times  

Salaried individuals in India usually plan their retirement keeping in mind the National Pension Scheme and the Employee Provident Fund. Abe Abraham, Partner at Cyril Amarchand Mangaldas, told Livemint, “Not all employers offer NPS but if your employer does it, you can request them to make employer contribution part of your salary. Tax benefits of NPS and EPF Employer contribution …

Why NPS can be your only retirement plan
1 month, 2 weeks ago

Why NPS can be your only retirement plan

New Indian Express  

The benefits of the National Pension Scheme significantly far outweigh the effort needed to learn and understand about investing. For years, you have put aside money for your retirement through employee provident funds, public provident funds, other government guarantee schemes or fixed deposits. Pension schemes across many countries in Europe are based on government guarantees. In India, 32.7 crore people …

How much can you invest in NPS? Secure lakhs in monthly pension
2 months ago

How much can you invest in NPS? Secure lakhs in monthly pension

India TV News  

Retirement planning is essential for a financially secure future. By investing in NPS, you can earn a monthly pension of lakhs depending on your investment strategy. If your target is a pension of Rs 1 lakh per month, you would need to invest Rs 20,000 per month. How can NPS provide Rs 1 lakh monthly pension Here’s how your savings …

The National Pension System was tweaked for flexibility but awaits tax clarity
2 months, 2 weeks ago

The National Pension System was tweaked for flexibility but awaits tax clarity

Live Mint  

The latest tweaks to India’s National Pension System improve an already excellent retirement saving scheme. The NPS has one of the world’s lowest charges for fund management—about 0.06% of the assets managed, a sharp contrast with the 2% that mutual funds typically charge. Populist pressure made the government extend to NPS the same tax treatment that had been bestowed on …

Top Tax-Saving Instruments To Maximize Your Returns In 2025
Trending News
2 months, 3 weeks ago

Top Tax-Saving Instruments To Maximize Your Returns In 2025

ABP News  

Planning and strategising your taxes is one of the most critical aspects of your financial management. These policies allow you to claim deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. Public Provident Fund The Public Provident Fund is one of the most popular tax-saving options under Section 80C for income tax benefits. Fixed …

Budget 2024: What income tax benefits can taxpayers expect on July 23?
8 months, 1 week ago

Budget 2024: What income tax benefits can taxpayers expect on July 23?

India Today  

Taxpayers are eagerly waiting for July 23 when Finance Minister Nirmala Sitharaman will present the full budget for the ongoing financial year. Income tax exemption limit There is speculation that the government may raise the income tax exemption limit from Rs 3 lakh to Rs 5 lakh. If implemented, individuals earning up to Rs 8.5 lakh annually could potentially pay …

Budget 2024: Central govt employees may receive 50 per cent of last drawn salary as pension under NPS
8 months, 2 weeks ago

Budget 2024: Central govt employees may receive 50 per cent of last drawn salary as pension under NPS

India TV News  

As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System. Addressing employee concerns This proposed move aims …

5 Tax Saving Mistakes To Avoid
1 year ago

5 Tax Saving Mistakes To Avoid

News 18  

Navigating the complexities of tax-saving strategies requires diligence and awareness of available deductions and exemptions. Taxpayers have access to various provisions under the Income Tax Act, such as Section 80C, which offers deductions for investments in avenues like PPF, ELSS, NSC, and EPF. Here are 5 common mistakes to avoid that can significantly impact your tax-saving strategy; Being Unaware Of …

NPS scheme may get a makeover in Interim Budget 2024
1 year, 2 months ago

NPS scheme may get a makeover in Interim Budget 2024

India Today  

India is expected to consider extending tax concessions on contributions and withdrawals in the upcoming Interim Budget 2024, in an effort to make the National Pension Scheme more attractive, as per a Deloitte report The government might specifically focus on individuals aged 75 and above. Corporations enjoy tax exemptions for contributions up to 10 per cent of the basic salary …

Independence Day 2023: How to plan your post-retirement financial independence with NPS?
1 year, 7 months ago

Independence Day 2023: How to plan your post-retirement financial independence with NPS?

Live Mint  

Remember the Nobel laureate Rabindranath Tagore’s famous lines, “Where the mind is without fear and the head is held high”. It furnishes a range of advantages not commonly found in other retirement savings schemes, including: Market-linked returns: The performance of your NPS investment is directly tied to the fluctuations of the market, offering you the possibility of achieving superior returns …

Self employed vs salaried: What are the tax benefits under NPS? Explained
1 year, 11 months ago

Self employed vs salaried: What are the tax benefits under NPS? Explained

Live Mint  

The National Pension System is an India-based voluntary based contribution retirement savings plan governed by the Pension Fund Regulatory and Development Authority. Suresh Surana, Founder, RSM India Tax Benefits by way of deduction with respect to Employee’s Contribution: Section 80CCD of the IT Act provides for deduction on contributions to pension scheme notified by Central Government. Tax Benefits by way …

National Pension System: From Tax Benefits, Schemes To Withdrawal. Know Everything About The Pension Scheme
2 years ago

National Pension System: From Tax Benefits, Schemes To Withdrawal. Know Everything About The Pension Scheme

ABP News  

If you are considering an avenue to invest for retirement planning, then you can consider National Pension System as it offers a range of investment options and a choice of pension fund schemes. NPS Tier-1 account Tier I – Pension account Minimum Contribution during A/C opening is Rs.500 for Tier I NPS Tier-2 account Tier II – Investment account The …

National Pension System (NPS): Why you must opt for this scheme
2 years ago

National Pension System (NPS): Why you must opt for this scheme

Live Mint  

NPS offers a high degree of flexibility to subscribers' in making their contributions, choice of fund manager and allocation of investments according to one’s risk appetite. 2) Husband-wife duo can enroll: Since NPS is an individual pension account, self-employed couples who run their family business can open separate NPS accounts and avail the tax benefits in their individual capacity. Not …

Explained: National Pension Scheme (NPS) vs Old Pension Scheme (OPS)
2 years ago

Explained: National Pension Scheme (NPS) vs Old Pension Scheme (OPS)

Hindustan Times  

With every passing day, demand for the restoration of the Old Pension Scheme is growing louder. Centre rolls out a one-time option for select employees to opt for OPS The central government recently decided to offer a one-time option for the "Old Pension Scheme" to a select group of central government employees. from the government servants appointed on or after …

Why you should consider National Pension System (NPS) over other annuity scheme?
2 years ago

Why you should consider National Pension System (NPS) over other annuity scheme?

Live Mint  

NPS scheme: The National Pension System helps in creating a stable income source for every individual post-retirement. According to tax and investment experts, NPS provided an affordable investment model among other annuity plans available in the market along with income tax benefits. On why one should choose NPS over other annuity schemes available in market, Sreekanth Nadella, MD and CEO …

Income Tax: With deductions of Rs 2 lakh per year, is NPS still the best tax-saving financial instrument?
2 years, 1 month ago

Income Tax: With deductions of Rs 2 lakh per year, is NPS still the best tax-saving financial instrument?

Live Mint  

During this peak tax planning quarter of Jan-Feb-Mar, you must be busy exploring various financial products that can give you the maximum tax benefits. Every financial year, the deduction can be claimed for the amount contributed up to: 10% of the salary for employees 20% of the gross total income for self-employed individuals However, the aggregate of deductions under Section …

How Old Pension Scheme Is Different From NPS As Himachal CM Reiterates Promise
2 years, 3 months ago

How Old Pension Scheme Is Different From NPS As Himachal CM Reiterates Promise

News 18  

Himachal Pradesh new Chief Minister Sukhwinder Singh Sukhu on Sunday said the state government will implement old pension scheme in the first Cabinet meeting. Here’s the difference between the two: Old Pension Scheme Vs New Pension Scheme The government’s old pension scheme, referred to as the Defined Benefit Pension System, is based on the last pay drawn by the employee. …

NPS scheme: 5 reasons to opt this plan for better return with minimum risk
2 years, 7 months ago

NPS scheme: 5 reasons to opt this plan for better return with minimum risk

Live Mint  

NPS scheme: The National Pension System is a unique pension plan backed by the Government of India, which provides both equity and debt exposure in single investment. Speaking on the reason for NPS scheme gaining popularity among investors, Ajit Kumar, Chief Strategy Officer at KFintech said, "One of the reasons NPS is growing in popularity is its highly simple and …

NPS Calculator: Want to Get Rs 50,000 Pension After Your Retirement? Know How to Invest
2 years, 9 months ago

NPS Calculator: Want to Get Rs 50,000 Pension After Your Retirement? Know How to Invest

News 18  

NPS Calculator: Indian citizens who contribute to the country’s workforce look for several schemes, which will help them save money and provide returns without having much risk. The NPS is jointly offered by the Pension Fund Regulatory and Development Authority and the government of India, and acts as a stable savings against one’s retirement. NPS Eligibility A National Pension Scheme …

NPS Update: Centre Mulling Over Raising Annuatised Pension Withdrawal Amount
2 years, 11 months ago

NPS Update: Centre Mulling Over Raising Annuatised Pension Withdrawal Amount

News 18  

In the wake of some states mulling over re-introducing the old pension scheme for their staff, the central government is planning to make the reform-oriented National Pension System more attractive by increasing its annuatised amount for the employees, according to a report. Under the NPS, a person is allowed to withdraw 60 per cent of the accumulated corpus contributed during …

NPS scheme: Government employees must know these rules to avail big benefits
3 years ago

NPS scheme: Government employees must know these rules to avail big benefits

India Today  

The National Pension System is an essential savings scheme for central government employees. NPS ACCOUNT OPENING RULES An NPS account of central government employees is opened immediately on joining the service. INVESTMENT IN NPS ACCOUNT An employee can make contributions above the mandatory limit of 10 per cent in Tier I account of NPS. On exit from NPS on 60 …

Income Tax Rule Change: Tripple Tax Benefits on NPS; Know How it Works, Who Can Claim
3 years ago

Income Tax Rule Change: Tripple Tax Benefits on NPS; Know How it Works, Who Can Claim

News 18  

Finance minister Nirmala Sitharaman announced that state government employees will now be able to claim tax benefit of 14 per cent on the National Pension System made by their employer from financial year 2022-23. At present, only the central government employees are allowed to claim tax benefit of 14 per cent for the employer’s contribution to their NPS accounts. NPS …

Budget 2022: Tax benefits to NPS for state govt employees hiked from 10% to 14%
3 years, 1 month ago

Budget 2022: Tax benefits to NPS for state govt employees hiked from 10% to 14%

Hindustan Times  

Tabling the Union budget in the Lok Sabha, Union finance minister Nirmala Sitharaman on Tuesday proposed an increase in the tax deduction limit from 10 per cent to 14 per cent on employers' contribution to the National Pension System account of the state and central government employees. Tax deduction limit raised from 10 per cent to 14 per cent on …

Budget 2022: Tax deduction hiked from 10% to 14% on NPS accounts
3 years, 1 month ago

Budget 2022: Tax deduction hiked from 10% to 14% on NPS accounts

India TV News  

Budget 2022: Tax deduction hiked from 10% to 14% on NPS accounts Announcing income tax-related changes, Sitharaman said, "to provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year." Highlights Tax deduction hiked from 10% to 14% on NPS accounts, Sitharaman announced Currently, only central government employees are …

NPS could get additional income tax benefits: Key things to know
3 years, 2 months ago

NPS could get additional income tax benefits: Key things to know

Live Mint  

People have a lot of expectations from Nirmala Sitharaman's Union Budget 2022. The additional deduction limit under the National Pension Scheme could be raised from ₹50,000 to ₹1 lakh this year. However, an increment in the limit for additional deduction for NPS investments would also amount to a similar correct step in the right direction,” he said. Amit Gupta, MD, …

Should you invest in NPS just for the tax benefits?
3 years, 4 months ago

Should you invest in NPS just for the tax benefits?

Live Mint  

National Pension Scheme is an essential retirement planning tool. NPS investment has two options Active mode: The investor can evaluate the return annually and switch from equity to debt and debt to equity options in the active mode. This scheme has brought the comfort of the monthly pension enjoyed by the government employees to others like employees, freelancers, self-employed, etc.,” …

NPS scheme: 5 benefits of National Pension System that you should know
3 years, 8 months ago

NPS scheme: 5 benefits of National Pension System that you should know

Live Mint  

NPS scheme: National Pension System is a retirement-oriented investment option that provides a periodic annuity and a lump sum corpus on the attainment of retirement age. NPS scheme is one of the ideal pension and retirement planning schemes available in India for salaried, self-employed professionals and freelancers like lawyers, doctors, chartered accountants, entrepreneurs, architects and others who work in their …

Tax benefits for investing in national pension system: Here's all you need to know
4 years, 1 month ago

Tax benefits for investing in national pension system: Here's all you need to know

India Today  

One of the biggest challenges of the working population in India, is to maintain a means of monthly income post their retirement due to cessation of salary from employer or income from employment. Tax Benefit 1: Deductions on subscriber’s contribution NPS contributions are eligible for tax deduction u/s 80 CCD of ITax Act or 20% of Gross Income for others) …

National Pension System Vs Atal Pension Yojana: Which is better and why
4 years, 2 months ago

National Pension System Vs Atal Pension Yojana: Which is better and why

India TV News  

When we hear the word "pension", the first thing that comes to mind is guaranteed income after retirement. The two hugely popular schemes are -- National Pension System and Atal Pension Yojana. While the NPS was launched in 2004 by the Atal Bihari Vajpayee government, the APY was introduced by the Modi government in 2015 that focuses mainly on the …

Pandemic spurs more private sector enrolments in NPS
4 years, 8 months ago

Pandemic spurs more private sector enrolments in NPS

The Hindu  

The uncertainties emerging out of the COVID-19 pandemic seem to have expedited enrolments in the National Pension System, a voluntary defined contribution pension scheme of the Government of India, as many private sector employees and employers were found to be seeking financial security, post retirement, through pension schemes. As per data released by the Pension Fund Regulatory and Development Authority, …

Here are 7 benefits to invest in National Pension System
4 years, 9 months ago

Here are 7 benefits to invest in National Pension System

India Today  

While we all are dealing with the covid-19 pandemic crisis, the topmost priority for all of us is to be safe. Subscriber contributing to NPS enjoys the following tax benefits: Tax Benefit 1: Deductions on subscriber’s contribution NPS contributions are eligible for tax deduction u/s 80 CCD of ITax Act or 20% of Gross Income for others) within the overall …

This NPS tax benefit can still be claimed under the new income tax rates
5 years, 1 month ago

This NPS tax benefit can still be claimed under the new income tax rates

Live Mint  

If you want to switch to the lower income tax rates and new slabs announced in Budget for financial year 2020-21, you have to forego most of the deductions including the popular Section 80C. But some deductions, including employer contribution on account of employee in notified pension scheme under Section 80CCD, can still be availed if you opt for the …

Union Budget 2020-21: Pension fund regulator wants govt to double tax benefit under NPS to Rs 1 lakh
5 years, 3 months ago

Union Budget 2020-21: Pension fund regulator wants govt to double tax benefit under NPS to Rs 1 lakh

Firstpost  

Pension fund regulator PFRDA is pitching for doubling the tax benefit under the NPS to Rs 1 lakh in the upcoming Budget, according to a whole-time member of the authority New Delhi: Pension fund regulator PFRDA is pitching for doubling the tax benefit under the NPS to Rs 1 lakh in the upcoming Budget, according to a whole-time member of …

Income tax benefits on NPS: New rules that came into effect this year
5 years, 4 months ago

Income tax benefits on NPS: New rules that came into effect this year

Live Mint  

The government has been amending NPS or National Pension Scheme rules to make the pension scheme more subscriber-friendly. Most recently, the government had raised income tax exemption limit for lumpsum withdrawal on maturity from NPS to 60%, from 40% earlier. Here are 5 things to know about recent changes in NPS rules: 1) In Union Budget 2019, the government had …

NPS withdrawal set to get tax-free status like PPF, EPF
5 years, 8 months ago

NPS withdrawal set to get tax-free status like PPF, EPF

Live Mint  

The Union Cabinet had last year approved an increase in income tax exemption limit for lumpsum withdrawal on exit from National Pension Scheme, effectively making withdrawal from the pension scheme 100% tax-free. But, according to tax experts, this tax benefit for NPS has not yet been notified and they are hoping that the government will implement it in this year’s …

Making NPS more attractive for investors
5 years, 8 months ago

Making NPS more attractive for investors

Live Mint  

Come Budget time and the buzz on expectations from the common man intensifies. Investors in NPS tend to compare the scheme’s architecture, which has mandated the purchase of annuity to provide for sustained regular income post retirement, with other options such as mutual funds, monthly income schemes and systematic investment plans etc. Another area that could help in bringing investors …

Save for old age, not for tax benefits
6 years, 2 months ago

Save for old age, not for tax benefits

Live Mint  

NPS is a government-sponsored pension scheme launched in 2004 for government employees. Once a taxpayer has exhausted the limit of ₹1.5 lakh available under section 80, an additional ₹50,000 is allowed under section 80CCD,” said Archit Gupta, CEO of Clear Tax, a tax e-filing platform. “This is one of the major advantages for NPS, as this section is solely available …

NPS can help you save ₹15,600 extra in taxes
6 years, 2 months ago

NPS can help you save ₹15,600 extra in taxes

Live Mint  

Section 80C of the Income Tax Act allows you to save ₹1.5 lakh of your income from getting taxed if you invest or buy products that are eligible for deduction under the Section. In fact if you are a salaried individual, you should know that your contribution to the Employees’ Provident Fund, EPF, also qualifies for a tax deduction under …

Tax-saving through NPS: Income tax benefits explained in 10 points
6 years, 2 months ago

Tax-saving through NPS: Income tax benefits explained in 10 points

Live Mint  

National Pension System or NPS is designed to save towards post retirement years by making contribution during the work life. Current Income tax benefits on Tier 1 NPS accounts 1) Tax benefit under 80CCD : For salaried as well as self-employed, investment of up to ₹ 50,000 in Tier I NPS account in a financial year qualifies for tax deduction …

NPS rule changes explained in 10 points
6 years, 3 months ago

NPS rule changes explained in 10 points

Live Mint  

The Union Cabinet recently approved a host of changes in NPS or National Pension Scheme. Apart from higher government contribution for central government employees covered under NPS, the Cabinet also made withdrawal from NPS completely tax-free. 4) For central government employees covered under NPS, the government’s contribution towards the pension scheme has been increased from the existing 10% to 14%. …

NPS bonanza for govt employees: More tax benefits, higher centre’s contribution
6 years, 3 months ago

NPS bonanza for govt employees: More tax benefits, higher centre’s contribution

Live Mint  

New Delhi: Finance Minister Arun Jaitley today announced big changes to the National Pension System or NPS, making it more attractive for central government employees. Apart from higher government contribution to NPS, Jaitley also announced additional tax benefits for the pension scheme for all categories of employees. Here are the changes to NPS announced by Jaitley for government employees: 1) …

Withdraw pension more than 50% of last drawn salary with this new govt rule
6 years, 3 months ago

Withdraw pension more than 50% of last drawn salary with this new govt rule

Live Mint  

Good news for central government employees! The cabinet has raised the government’s matching contribution to the National Pension Scheme to 14 per cent of the basic salary as against 10 per cent earlier, according to official sources. In a major development, central government employees are allowed to withdraw up to 60 per cent of their NPS corpus at the time …

NPS gets you extra ₹50,000 income tax deduction. How to claim
6 years, 4 months ago

NPS gets you extra ₹50,000 income tax deduction. How to claim

Live Mint  

If you are a salaried individual and have already exhausted the ₹ 1.5 lakh Section 80C income tax benefit, the NPS could help you with additional tax savings. Investment of up to ₹ 50,000 in the National Pension Scheme or NPS for all subscribers, whether salaried or self-employed, qualifies for additional tax deduction under Section 80CCD of the Income Tax …

NPS can now be ‘technically’ tax-free, says pension regulator
9 years ago

NPS can now be ‘technically’ tax-free, says pension regulator

The Hindu  

Retirement savings accumulated under the New Pension Scheme or NPS can now be totally tax-free at the time of withdrawal under certain conditions and the Pension Fund Regulatory and Development Authority had only urged the government to bring some parity in the tax treatment of different pension products it competes with, such as the employees’ provident fund, the regulator’s Chairman, …

A big push to pension plan under study
11 years, 2 months ago

A big push to pension plan under study

The Hindu  

The New Year could see the introduction of a new pensions system in India that will offer retirement savers the option of tapping the high-risk-high-return equity markets. Stock market regulator Securities and Exchange Board of India will in its next board meeting in January take up a proposal to allow mutual fund companies to offer pension plans. Highly placed official …

Take advantage of NPS, corporates told
12 years, 6 months ago

Take advantage of NPS, corporates told

The Hindu  

Chairperson of the Pension Fund Regulatory and Development Authority Yogesh Agarwal urged corporate entities on Monday to take advantage of tax benefits on contribution made by employees to the National Pension Scheme. Mr. Agarwal said the three States, which have not implemented the scheme – Kerala, West Bengal and Tripura – are also likely to join the other States in …

Discover Related