How to claim deductions of more than Rs. 2 lakhs on NPS contributions? Under Section 80CCD of the Income Tax Act, an individual can claim deductions from taxable income for contributions made to the ...

Section 80CCD allows taxpayers to claim deductions on amounts they contribute to government-backed pension schemes such as ...

Investing in NPS offers tax benefits under the old and new tax systems. In the new tax system, employees can claim deductions under Section 80CCD (2) for employer contributions. Under the old tax ...

Contributions to the government-approved pension schemes such as the National Pension System (NPS), the Unified Pension ...

Union Budget impact: The Union Budget 2024-25 proposed several changes in terms of personal finance and income tax. Like National Pension System (NPS) contribution limits for private sector employers ...

The subscribers are now permitted to open their NPS account through One Time Password (OTP) also. Is NPS deduction allowed under New Tax Regime: In the new tax regime, taxpayers will have to forgo ...

Finance Minister Nirmala Sitharaman launched NPS Vatsalya last week. It is an investment scheme to secure retirement savings for your minor children. Parents or guardians of the child can invest in ...

Many investors opt for National Pension Scheme, or National Pension System (NPS) to create retirement corpus. The government scheme that help you create huge funds in the long run can also help you ...

Section 80C deduction allows for the reduction of taxable income for individuals and Hindu Undivided Families (HUFs). In total, the maximum deduction that can be claimed under Section 80C, 80CCC, and ...

NPS: The National Pension Scheme (NPS) is recognised as a premier choice for creating a retirement fund, with one of the ...

Income Tax Alert: Section 80C allows up to Rs 1.5 lakh income tax exemption in a financial year. If an income tax payer includes Section 80CCD (1B), this annual limit can be raised up to Rs 2 lakh.