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Any individual who is a subscriber of NPS can claim tax benefit for Tier-I account under Sec 80 CCD (1) within the overall ceiling of ₹1.5 lakhs under Sec 80 C of Income Tax Act. 1961. [12] An additional deduction for investment up to ₹50,000 in NPS (Tier I account) is available exclusively to NPS subscribers under subsection 80CCD (1B).
These three tiers are based on the employee's hire date (i.e. Tier I covers 1 January 1980 (and before) to 1 January 1995, Tier II 2 January 1995 to 1 January 2010, and Tier III 1 January 2010 to present) and have different benefit provisions (e.g. Tier I employees can retire at age 50 with 80% benefits or wait until 55 with full benefits, Tier ...
On 18 November 2022, the state government of Punjab notified implementation of the OPS to the 1.75 lakh government employees who are presently being covered under the NPS. [27] 1.26 lakh employees are already covered in OPS and Rs 16,746 crore is accumulated in the pension funds of its manpower recruited after implementation of NPS in the state ...
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." Costco is best known for its supersized pantry items and $4.99 rotisserie chickens.
Interior designer Grace Kaage's 2-year-old son, Christian, drew all over her white couch. See how she responded to her toddler drawing on her white furniture.
Some pundits and skeptics have serious doubts about the S&P 500's ability to pull off the hattrick of 20% return years. Wells Fargo (NYSE:WFC) senior market strategist Scott Wren thinks that such ...
A primary purpose of the Mitigation phase is to minimize the operational impact on other critical Defense Infrastructures and assets when a critical asset is lost or damaged. As an example, if there is a U.S. installation, Site A, located in a host nation. Site A is a tier 1 asset, meaning that if it fails, the Combatant Commands mission fails.
DJ Unk, the Atlanta MC known for his early 2000s hits including “Walk It Out” and “2 Step," died after suffering a cardiac arrest this week, according to his wife.