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Save more tax with NPS investment: How investing Rs 50,000 extra in NPS can reduce income tax beyond Section 80C | Business

Financial Literacy News: Tax-saving time is here. You have until March 31, 2024, to finalize your tax-saving plans for the 2023-24 financial year. If you're sticking to the old tax rules, there are plenty of deductions and exemptions to help you save on income tax. ....

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How NPS investment of Rs 50,000 can help you save more income tax

NPS deduction of Rs 50000: Under the old tax regime, an individual can claim additional deduction of Rs 50,000 for NPS investment made. This deduction is available over and above Rs 1.5 lakh available under Section 80C of the Income Tax Act. With full utilisation of Section 80C and additional NPS investment, an individual can claim total deduction of Rs 2 lakh in a financial year. ....

Milin Bakhai , Na Shah Associates , Public Provident Fund , Employee Provident Fund , National Pension System , Income Tax Act , Atal Pension Yojana , Under Section , Associate Partner , Direct Taxes ,