Need details on NPS Income Tax Benefits FY 2020-21

Need details on NPS Income Tax Benefits FY 2020-21 ; Under Old & New Tax Regimes

1 Like
Effective from FY 2020-21, an individual tax assessee will have an option to go for new Tax Slab Rates by forgoing the existing Income Tax Deductions and Exemptions, like HRA, Section 80C, Home loan tax benefits etc.,So, to avail the below new tax regime, which is optional, taxpayers will have to let go of income tax exemptions.

The Government of India rolled out the National Pension Scheme (NPS) for all the citizens of India from May 1, 2009 and for corporate sector from December, 2011.
If you are investing in NPS Scheme or planning to invest in NPS, you need to be aware of all the latest NPS Income Tax benefits that are currently available under old Tax Regime and New Tax Regime (Budget 2020-21).

Source:

2 Likes
Powered by | India's No.1 Payroll and HR Software.
9000+ Clients
150 Cities
10 Lakh+ Users