Budget 2016 has proposed two changes to the national pension system. No, it not what you are looking for!!
A subscriber whose NPS account is at least 10 years old will be eligible for withdrawing 25% of his/her contributions (without accrued income earned thereon). Employer contributions (if any) cannot be withdrawn.
This 25% is now tax-free upon withdrawal but will be within the 40% overall tax free withdrawal limit. Full details of when one can withdraw is here: NPS: Partial Withdrawal Rules
Individuals who have subscribed to NPS on their own can now claim tax benefit of up to 20% of their salary under section 80CCD(1) which is part of 80C. Of course, the extra 50K under 80CCD(1B) is also there.
Also read: Budget 2017: Tax benefit illustration
Pune Investor Workshop Feb 26th, 2017
The second Pune workshop will be held on Feb 26th, 2017. You can register for this via this link
You Can Be Rich Too With Goal-Based Investing
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- Ask the right questions about money
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More information is available here: A Beginner's Guide To Make Your Money Dreams Come True!
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