Dear friends,
Due to COVID-19, it is always safe to stay at home. So this blog will help you to open your NPS account (National Pension System) online.
It will really help you a lot.
NPS Tier 1 Tax Benefits
Due to COVID-19, it is always safe to stay at home. So this blog will help you to open your NPS account (National Pension System) online.
It will really help you a lot.
NPS Tier 1 Tax Benefits
You get a tax deduction under Section 80CCD(1) and 80CCD(2) on contributions to the NPS up to Rs 1.5 lakh per annum.
- In addition, you can get a tax deduction on contributions up to Rs 50,000 under Section 80CCD(1B). Hence the total tax benefit on contributions to the NPS is Rs 2 lakh per annum.
- In addition, the returns on NPS are tax-exempt while the money is retained in the NPS account.
- On maturity, up to 60% of the accumulated NPS corpus can be withdrawn free of tax. Another 40% must be used to buy an annuity (regular pension).
When I was trying to open an online NPS account, I faced some problems and the same is being shared here.
So we will see the procedure step by step:
