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NPS Brochure
Contribution to NPS are *tax deductible under 80CCD (1), Section 80CCD (1B) and
Section 80CCD (2) of the Indian Income Tax Act, 1961
*Tax benefit is subject to applicable tax laws.
The self-employed NPS subscribers can claim a tax deduction up to 20% of their gross income or ₹1,50,000 whichever is less.
Additional tax benefits(beyond 80C limits)
NPS subscriber can claim tax deduction on an additional self-contribution upto ₹50,000/-
The salaried NPS subscribers can claim a tax deduction up to 10% of their basic salary or 1,50,000 whichever is less.
Additional tax benefits(beyond 80C limits)
NPS subscriber can claim tax deduction on an additional self-contribution upto ₹50,000/-
Maximum of 10% of the salary (Basic Salary + Dearness Allowance).
NPS Subscriber can withdraw lump sum 20% of the entire corpus build. The withdrawal amount is tax exempted.
Once the NPS subscriber attains the retirement age (60 years), Subscriber is eligible to withdraw 60% of the corpus in lumpsum. The amount withdrawn is exempted from tax.
The amount that the NPS subscribers use for purchasing an annuity is fully exempted from tax
NPS is a low-cost investment option. Over a long term horizon of 20 to 40 years, small savings in operational costs result in a huge difference in the accumulated corpus and the ultimate pension.
NPS provides seamless portability across jobs and across locations as the subscriber can shift to the new job/location, without leaving behind the corpus build, as happens in many pension schemes in India.
It is easy to open and manage an NPS account online. Subscribers can also make their contributions to the scheme online.
NPS subscribers get flexibility to choose their investment strategy based on their risk tolerance and investment goals.
Till retirement, pension wealth accumulation grows over the period of time with a compounding effect.
NPS helps subscribers develop a savings habit, encouraging them to regularly invest a portion of their income towards their retirement.
NPS is Retirement Planning Investment product with various tax benefits. Contribution under NPS enjoys tax benefit under section 80CCD (1), under section 80CCD (1B) and Section 80 CCD (2) on Indian Income Tax 1961.
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