NPS

Retirement Saving – National Pension System (NPS)

Finance - NATIONAL PENSION SYSTEM (N.P.S.) BACKGROUND The National Pension System is a defined contribution scheme launched by Pension Fund Regulatory & Development Authority (P.F.R.D.A) in 2004 for government employees & subsequently in 2009 for all citizen. The eligible subscribers are allotted a 12 digit unique Permanent Retirement Accou...

Read More

How are withdrawals from Tier II NPS account should be taxed

Finance - Before we discuss the taxation rules for Tier II account under NPS let me briefly touch upon the types of accounts under NPS. One can have two type of account under NPS. First is the Tier I account which is the main account and is also called pension account. The second is called Tier II […]...

Read More

Income Tax benefits under National Pension Scheme (NPS)

Finance - NPS is a government-sponsored pension scheme. It was launched in January 2004 for government employees. However, in 2009, it was opened to all sections. The scheme allows subscribers to contribute regularly in a pension account during their working life. On retirement, subscribers can withdraw a part of the corpus in a lump sum and use ...

Read More

Types of accounts under National Pension System

Finance - A person can open two accounts under National Pension System (NPS). The main account is called Tier I account and an additional account is labelled as Tier II account. Let us understand about both of these accounts. Features of Tier I NPS account: Tier I is the default and proper pension account under NPS. This […]...

Read More

How to open your NPS account

Finance - We have already discussed the basics of an NPS account in an earlier article. I have also explained that an NPS account can be opened online as well as offline. Let us understand how to open the NPS in both the ways. Read Earlier post: Introduction to NPS account Registering for NPS offline For opening […]...

Read More

Ombudsman under NPS & Atal Pension Yojana

Finance - Pension Fund Regulatory and Development Authority (PFRDA) has appointed Shri Arnab Roy as Stipendiary Ombudsman in terms of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 for resolving NPS/APY subscriber grievances....

Read More

FAQs on NPS & NPS for NRI Through eNPS

Finance - Q. 1 What is National Pension System? Ans: National Pension System is a contributory pension system which was initially (from 1st January 2004) introduced for the government employees and later rolled out for all citizens of India from May 1, 2009. Any citizen of India in the age group 18 to 65 years can join […]...

Read More

Overseas Citizen of India can enroll in NPS at par with NRIs

Finance - Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians vide Circular No: PFRDA/2019/19/PDES/3 dated 29th October 2019....

Read More

Pensionary benefits under NPS on Voluntary Retirement

Finance - The features and benefits under National Pension System (NPS) and the old pension scheme are independent. Under NPS, there is a provision for voluntary retirement/exit prior to the age of superannuation, without linking it with the minimum number of 20 years of service....

Read More

National Pension System (NPS)- Govt approves Tax Relief Proposals

Finance - The Union Cabinet in its Meeting on 6th December, 2018 has approved the following proposal for streamlining the National Pension System (NPS). Enhancement of the mandatory contribution by the Central Government for its employees covered under NPS Tier-I from the existing 10% to 14%....

Read More
Sorry No Post Found

D-Remit – an additional option to contribute to NPS

CIR no. PFRDA/2020/44/SUP-CRA/17 - (01/10/2020) - Direct Remittance or D-Remit – an additional option to contribute – is now available for the Subscribers. D-Remit is an electronic system through which money can be transferred from Subscriber’s Bank account to the Trustee Bank directly. To use D-Remit, Subscriber is required to have a Virtual...

Read More

e-Nomination facility for NPS subscribers

CIR No : PFRDA/2020/37/SUP-CRA/15 - (03/09/2020) - PFRDA has issued a Circular pertaining to ‘e-Nomination facility for NPS Subscribers’ in order to help and guide the Subscribers of NPS in understanding detailed provisions regarding ‘Nominations’ under NPS and process flow of e-Nomination facility....

Read More

National Pension Scheme Tier II-Tax Saver Scheme 2020

Notification No. 45/2020-Income Tax F. No.370142/26/2019-TPL [S.O. 2232(E)] - (07/07/2020) - CBDT notified vide Notification No. 45/2020-Income Tax dated 07th July, 2020 that Tax benefit of Section 80C will be available to the Government employee if, they contributes towards Tier-II of NPS. Benefit is notified under Section 80C (2) (xxv) Income-tax Act, 1961 (43 of 1961) raad with  Nationa...

Read More

NPS withdrawal process during Covid-19 pandemic situation

CIR No.: PFRDA/2020/19/SUP-CRA/8 - (05/06/2020) - NPS withdrawals including partial withdrawal are allowed as defined under NPS exit regulations. NPS Subscribers who intend to withdraw are required to submit the duly filled-up withdrawal forms along with the Supporting documents to the associated Nodal officers/ Points of Presence (POP) for process...

Read More

Revised Valuation Guidelines for valuation of securities under NPS Schemes

PFRDA/2019/23/REG-PF/4 - (21/11/2019) - PFRDA issued valuation guidelines in April, 2012 for valuation of securities for NPS Schemes under PFRDA (Preparation of Financial Statements and Auditors Report of Schemes under National Pension System) Guidelines-2012....

Read More

Recent Posts in "NPS"

Retirement Saving – National Pension System (NPS)

NATIONAL PENSION SYSTEM (N.P.S.) BACKGROUND The National Pension System is a defined contribution scheme launched by Pension Fund Regulatory & Development Authority (P.F.R.D.A) in 2004 for government employees & subsequently in 2009 for all citizen. The eligible subscribers are allotted a 12 digit unique Permanent Retirement Accou...

Read More
Posted Under: Income Tax |

D-Remit – an additional option to contribute to NPS

CIR no. PFRDA/2020/44/SUP-CRA/17 (01/10/2020)

Direct Remittance or D-Remit – an additional option to contribute – is now available for the Subscribers. D-Remit is an electronic system through which money can be transferred from Subscriber’s Bank account to the Trustee Bank directly. To use D-Remit, Subscriber is required to have a Virtual ID (Virtual Account). The introduction ...

Read More

Ombudsman under NPS & Atal Pension Yojana

Pension Fund Regulatory and Development Authority (PFRDA) has appointed Shri Arnab Roy as Stipendiary Ombudsman in terms of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015 for resolving NPS/APY subscriber grievances....

Read More
Posted Under: Income Tax |

How are withdrawals from Tier II NPS account should be taxed

Before we discuss the taxation rules for Tier II account under NPS let me briefly touch upon the types of accounts under NPS. One can have two type of account under NPS. First is the Tier I account which is the main account and is also called pension account. The second is called Tier II […]...

Read More
Posted Under: Income Tax |

e-Nomination facility for NPS subscribers

CIR No : PFRDA/2020/37/SUP-CRA/15 (03/09/2020)

PFRDA has issued a Circular pertaining to ‘e-Nomination facility for NPS Subscribers’ in order to help and guide the Subscribers of NPS in understanding detailed provisions regarding ‘Nominations’ under NPS and process flow of e-Nomination facility....

Read More

Income Tax benefits under National Pension Scheme (NPS)

NPS is a government-sponsored pension scheme. It was launched in January 2004 for government employees. However, in 2009, it was opened to all sections. The scheme allows subscribers to contribute regularly in a pension account during their working life. On retirement, subscribers can withdraw a part of the corpus in a lump sum and use ...

Read More
Posted Under: Income Tax |

Types of accounts under National Pension System

A person can open two accounts under National Pension System (NPS). The main account is called Tier I account and an additional account is labelled as Tier II account. Let us understand about both of these accounts. Features of Tier I NPS account: Tier I is the default and proper pension account under NPS. This […]...

Read More
Posted Under: Income Tax |

FAQs on NPS & NPS for NRI Through eNPS

Q. 1 What is National Pension System? Ans: National Pension System is a contributory pension system which was initially (from 1st January 2004) introduced for the government employees and later rolled out for all citizens of India from May 1, 2009. Any citizen of India in the age group 18 to 65 years can join […]...

Read More
Posted Under: Income Tax |

How to open your NPS account

We have already discussed the basics of an NPS account in an earlier article. I have also explained that an NPS account can be opened online as well as offline. Let us understand how to open the NPS in both the ways. Read Earlier post: Introduction to NPS account Registering for NPS offline For opening […]...

Read More
Posted Under: Income Tax |

New Pension Scheme

New Pension Scheme Everyone has a retirement plan for travel, leisure, meeting daily expenses, only one can enjoy retirement if one has available funds. Retirement is the condition when there is no active income, unlike developed countries, there is no Government support. With increasing, medical advancement life expectancy after retireme...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (4,996)
Company Law (6,668)
Custom Duty (8,034)
DGFT (4,375)
Excise Duty (4,399)
Fema / RBI (4,410)
Finance (4,659)
Income Tax (34,812)
SEBI (3,725)
Service Tax (3,605)

Search Posts by Date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031