 |
| National Pension Scheme Tax Benefit |
As the financial year comes to an end, it's essential to consider the tax benefits offered by the National Pension Scheme (NPS). NPS is a voluntary and long-term retirement investment plan that was opened for all citizens of India between the ages of 18 and 65 in 2009.
Investors are eligible to receive tax deductions worth Rs. 2 lakhs in total, which includes Rs. 1.5 lakhs under Section 80C and an extra Rs. 50,000 under Section 80CCD (1B).
This means that if you belong to the 30% tax bracket, you could potentially save Rs. 62,400 in taxes.
In summary, NPS has significant tax advantages and is an excellent investment option for those who want to plan for their retirement early and have a low-risk tolerance.
If you have any doubts related to NPS do let us know 😊
0 Comments