Budget News: Tax experts suggest making annuity income from the National Pension System (NPS) tax-free to provide financial security to senior citizens and align with fairness and social welfare principles. Addressing the existing taxation on income from EPF and NPS, the proposal is to remove NPS contributions from the cap or increase the limit. The taxation of annuity income in the NPS affects its wider acceptance, but making annuities tax-free could impact government finances.