Government To Raise Income Tax Exemption For National Pension System (NPS) Subscribers: 5 Things To Know

The government on Friday proposed to increase the income tax exemption limit on withdrawal from National Pension System (NPS) to 60 per cent, from the existing 40 per cent. NPS is a government-sponsored retirement planning instrument. In NPS, a government employee contributes towards pension from his/her monthly salary along with matching contribution from the employer. The funds are then invested in earmarked investment schemes thro...