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Source: Live Mint National pension system (NPS) and employee provident fund (EPF) are two key retirement schemes in India. While anyone can open an NPS account, one has to be in a full-time job to contribute to EPF. Some employers now provide both, allowing employees to boost their retirement corpus while enjoying tax perks. But…
Source: Live Mint With the new tax regime becoming increasingly prevalent and more common, taxpayers stand to lose their eligibility to claim most of the exemption and deductions offered under various provisions such as sections 80C, 80D, 80DD and 80G under the old tax regime. Nearly 73 percent of taxpayers have already opted for the new…
Source: Live Mint I applied for Portugal Golden Visa with my children’s education in mind. I was been granted one and now live in Portugal where I have my own business. Since I’m an Indian citizen, how will my NPS annuity be taxed in India? Will it change if I apply for Portuguese citizenship in…
Source: Live Mint The central government announced that the Unified Pension Scheme (UPS) will be available as an option under the National Pension System for the employees working under the government, according to an official notification on January 24. “The Unified Pension Scheme shall be applicable to such Central Government employees who are covered under…
Source: Live Mint In FY 2023-24, the new tax regime became a default regime. This shift has led many taxpayers to wonder whether traditional tax-saving investments such as PPF (Public Provident Fund), NSC (National Savings Certificate), post office saving scheme and NPS (National Pension System) are still relevant for the purpose of investment. The tax-saving…
Source: Live Mint The National Pension System (NPS) introduced in 2004 for government employees has since been extended to others but adoption has been slower than desired, said Deepak Mohanty, chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), at the 17th edition of the Mint BFSI Summit and Awards on Friday. Underscoring a…
Source: Live Mint The National Pension System (NPS) is a retirement savings scheme that is mandatory for government employees and optional for those in the private sector. It also offers tax benefits of up to ₹2 lakh under section 80CCD(1) and 80CCD (1B) of the Income Tax Act, 1961. One has to be a resident…
Source: Live Mint This is the time of the year when employees are busy submitting investment proofs to their employers. Essentially, investments are meant to be declared to the respective employers during the year and one must submit the proof of investment in order for the employer to deduct TDS (tax deducted at source) accordingly. Meanwhile,…
Source: Business Standard 2 min read Last Updated : Oct 01 2024 | 7:45 PM IST NPCI Bharat BillPay (NBBL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), on Tuesday partnered with the Pension Fund Regulatory and Development Authority (PFRDA) to integrate the National Pension System (NPS) as a biller…
Source: Live Mint The desire for early retirement is gaining popularity as more individuals aim to escape the traditional work timeline and achieve financial independence before the usual retirement age of 60. The National Pension System (NPS) is an excellent option for those seeking early retirement, offering a balanced combination of wealth creation, tax benefits,…
