new pension scheme

Tax benefits for NPS contribution

Income Tax - After having discussed the withdrawal rules for National Pension System (NPS) last week, this let us discuss income tax benefits available for contributions made by you to your NPS account.  Though you can open Tier I and Tier II account under the NPS, the tax benefits are available only in respect of contributions made to […]...

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National Pension Scheme-NPS- Mix of EET & EEE (whether only for tax saving or investment for retirement life)

Income Tax - Insertion of Section 10(12A) Finance Act (FA), 2016 was a welcome step by the CBDT to the NPS subscribers wherein 40% of the accumulated NPS corpus was made exempt from income tax on closure of NPS account at the time of withdrawal. Earlier, the entire amount was taxable. CBDT is introducing new provisions in IT Act to provide NPS a level...

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FAQs: National Pension System For Non Resident Indians

Income Tax - NPS is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. Under the NPS, the individual contributes to his retirement account. NPS is designed on Defined contribution basis wherein the subscriber contributes to his own account. The benefit subscribers ultimately receive depends on the amount o...

Read More

National Pension System – Complete Guide

Income Tax - About National Pension System 1. What is National Pension System? National Pension System (NPS) is a pension cum investment scheme launched by Government of India to provide old age security to Citizens of India. It brings an attractive long term saving avenue to effectively plan your retirement through safe and regulated market-based ret...

Read More

Benefits of New Pension Scheme (NPS)

Income Tax - Contribution made to the NPS Tier-I account is eligible for tax deduction under the Income Tax Act, 1961. An additional tax rebate of Rs.50000 is also allowed for contributions made to NPS Tier-I under Section 80CCD (1B) of the Income Tax Act, 1961....

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Modification in Partial Withdrawal rules under NPS

Income Tax - Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new b...

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‘View Pension Passbook’ Service for pensioners through Umang App

Income Tax - Employees’ Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner. ...

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PFRDA prescribes New NPS Subscriber Registration Form

Income Tax - Pension Fund Regulatory and Development Authority prescribes New NPS Subscriber Registration Form – Additional Mandatory Requirements ...

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Three recent changes in National Pension Scheme (NPS)

Income Tax - The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:...

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NPS subscribers can withdraw partially three years after joining

Income Tax - The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. ...

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Clarification to pensioners about suggestion to hike exemption limit to Rs. 5 Lakhs

D.O. No. 370150/9/2017- TPL - (14/11/2017) - Clarification to pensioners about the hike in exemption limit to Rs 3 Lakhs from Minister of State for Finance Shri. Shiva Pratap Shukla by his letter dated 14th November 2017....

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PFRDA (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017

Notification No. PFRDA/12/RGL/139/8 - (10/08/2017) - These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017....

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Simplification of pension procedure- Handing over of PPO before retirement

No. 1/27/2011-P&PW (E) - (01/08/2017) - Simplification of pension procedure – i) Handing over of PPO to the retiring employee by the Head of Office before retirement and (ii) Submission of undertaking by retiring Government servant along with pension papers ...

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Benefit of 2 Years weightage of Service under Employees Pension Scheme

Circular No. Pension- Pen-I/3/4/2016/MOL&E/2 - (08/05/2017) - In the case of the member who superannuates on attaining the age of 58 years, and who has rendered 20 years pensionable service or more, his pensionable service shall be increased by adding a weightage of 2 years....

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Amendment in rule for Disbursement of pension and other benefits

G.S.R. 437(E) - (04/05/2017) - Disbursement of pension and other benefits.- (1) The Commissioner shall, with the approval of the Central Board, enter into arrangement for the disbursement of pension and other benefits under this Scheme with disbursing agencies like post office or nationalised banks or Treasuries or scheduled comm...

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Recent Posts in "new pension scheme"

Tax benefits for NPS contribution

After having discussed the withdrawal rules for National Pension System (NPS) last week, this let us discuss income tax benefits available for contributions made by you to your NPS account.  Though you can open Tier I and Tier II account under the NPS, the tax benefits are available only in respect of contributions made to […]...

Read More
Posted Under: Income Tax |

National Pension Scheme-NPS- Mix of EET & EEE (whether only for tax saving or investment for retirement life)

Insertion of Section 10(12A) Finance Act (FA), 2016 was a welcome step by the CBDT to the NPS subscribers wherein 40% of the accumulated NPS corpus was made exempt from income tax on closure of NPS account at the time of withdrawal. Earlier, the entire amount was taxable. CBDT is introducing new provisions in IT Act to provide NPS a level...

Read More
Posted Under: Income Tax |

FAQs: National Pension System For Non Resident Indians

NPS is an easily accessible, low cost, tax-efficient, flexible and portable retirement savings account. Under the NPS, the individual contributes to his retirement account. NPS is designed on Defined contribution basis wherein the subscriber contributes to his own account. The benefit subscribers ultimately receive depends on the amount o...

Read More
Posted Under: Income Tax |

National Pension System – Complete Guide

About National Pension System 1. What is National Pension System? National Pension System (NPS) is a pension cum investment scheme launched by Government of India to provide old age security to Citizens of India. It brings an attractive long term saving avenue to effectively plan your retirement through safe and regulated market-based ret...

Read More
Posted Under: Income Tax |

Benefits of New Pension Scheme (NPS)

Contribution made to the NPS Tier-I account is eligible for tax deduction under the Income Tax Act, 1961. An additional tax rebate of Rs.50000 is also allowed for contributions made to NPS Tier-I under Section 80CCD (1B) of the Income Tax Act, 1961....

Read More
Posted Under: Income Tax |

Modification in Partial Withdrawal rules under NPS

Modification in Partial Withdrawal rules under NPS: Partial withdrawals will now be allowed to NPS subscribers who wish to improve their employability or acquire new skills by pursuing higher education/ acquiring professional and technical qualifications. Further, individual NPS subscribers who wish to set up a new business/ acquire new b...

Read More
Posted Under: Income Tax |

‘View Pension Passbook’ Service for pensioners through Umang App

Employees’ Provident Fund Organisation (EPFO), which is providing a host of e-services for its stakeholders, has now introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner. ...

Read More
Posted Under: Income Tax |

PFRDA prescribes New NPS Subscriber Registration Form

Pension Fund Regulatory and Development Authority prescribes New NPS Subscriber Registration Form – Additional Mandatory Requirements ...

Read More
Posted Under: Income Tax |

Three recent changes in National Pension Scheme (NPS)

The Government of India has recently made three changes in the National Pension Scheme (NPS) including withdrawal norms. The details are as under:...

Read More
Posted Under: Income Tax |

NPS subscribers can withdraw partially three years after joining

The NPS subscribers can withdraw after three years from the date of joining the system and a maximum of three times during the entire tenure of subscription under NPS, but the partial withdrawal is linked with contributions made by the subscriber. ...

Read More
Posted Under: Income Tax |

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