Updated Feb 24, 2021 | 06:11 IST
Amount invested in purchase of Annuity, is fully exempt from tax. However, annuity income that you receive in the subsequent years will be subject to income tax. NPS returns, maturity amount taxation rules explained
New Delhi: National Pension Scheme is slowly becoming a popular choice for Indians because of its impressive returns in recent years. NPS is a pension cum investment scheme launched by the government to provide old age security to Citizens of India. The Scheme is regulated by Pension Fund Regulatory and Development Authority (PFRDA). National Pension System Trust (NPST) established by PFRDA is the registered owner of all assets under NPS.
NPS subscribers after three years of joining the scheme are eligible for partial withdrawal to meet their specific needs as permitted by PFRDA. The eligible subscribers need to submit their application