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On 10 December 2018, the Government of India made NPS an entirely tax-free instrument in India where the entire corpus escapes tax at maturity; the 40% annuity also became tax-free. [11] 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 ...
The NPS was subsequently extended to all citizens of the country with effect from 1 May 2009 including self employed professionals and others in the unorganized sector on a voluntary basis. The Pension Fund Regulatory & Development Authority Act was passed on 19 September 2013 and the same was notified on 1 February 2014. PFRDA regulates the ...
The National Pension System (NPS) is a defined contribution pension system administered and regulated by the Pension Fund Regulatory and Development Authority (PFRDA), created by an Act of the Parliament of India. The NPS started with the decision of the Government of India to stop defined benefit pensions, Old Pension Scheme (OPS) for all its ...
The ET Money secured 2.5 million app downloads in 2017. [2] It processed over 2 crore investment orders and registered a ₹ 500 crore sales in the mutual fund within two years of its launch. It had more than 4 million users on its app, as reported in 2018. [3] It currently has more than 5 million app downloads on the Google Play store as of ...
Visa fees (for Standard visitor visa): SAARC - USD 35; Non SAARC - USD 75; e-Visa categories will be charged an additional USD 18.50 service fee. If transiting from any of the Sri Lankan airports, An e-Visa is exempted (2 day transit period). Sudan: Visa required [330] Suriname: eVisa [331] [332] 90 days Sweden: Visa required [333] Switzerland
Extendable in India 1 Tourist 5 years M – No 2 Transit 15 days S/D Return/onward journey ticket No 3 Business 5 years M Documents to prove bona fide purpose (company letter, etc.) Yes 4 Employment 1 year / period of contract M Proof of employment (appointment document), terms and conditions Yes 5 Student Period of course / 5 years M
Defined Contribution (DC) scheme like NPS is a type of in which the beneficiary makes contributions to a retirement fund during his service and the receivable pension is based on the balance in his pension fund at the time of his retirement.
Annual contributions qualify for tax deduction under Section 80C of income tax as per the old Tax regime. The tax benefit is capped at ₹1.5 lacs per financial year. PPF falls under the EEE (Exempt, Exempt, Exempt) tax basket. Contribution to the PPF account is eligible for tax benefit under Section 80C of the Income Tax Act in the old Tax ...