If you are looking to save for retirement, the National Pension System (NPS) is the investment option that you may consider. NPS is essentially a market-linked deferred pension scheme that comes with several tax benefits as well. One can get the tax benefit not only at the time of investment, but even on the partial withdrawals and also on the maturity amount at the vesting age. The vesting age is the age when the annuity i.e. pension begins. The pension that one gets from the vesting age is, however, taxable in the hands of the individual as per one’s tax slab in the year of receipt.
Section 80 CCD (1): Under Section 80CCD(1) both salaried as well as self-employed may save tax by contributing towards NPS. However, there is a cap on the maximum amount that one may invest for tax benefits and is different for both the categories.
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Denne historien er fra March 2022-utgaven av Investors India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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