Retirement Planning: With UPS in the fray soon, is it the time for govt employees to exit NPS?

Retirement Planning: With UPS in the fray soon, is it the time for govt employees to exit NPS?

As you are aware that the Union Government is set to roll out the Unified Pension System (UPS) from April 1, 2025 to give fixed, inflation-linked pensions to subscribers. As of now, the scheme is meant only for 23 lakh central government employees and the state government employees are permitted to opt for them. Wealth … Read more

Budget 2024 | ‘Capital gains tax hike not positive’: SRCC prof Saumya Aggarwal on NPS Vatsalya, new tax regime & more

Budget 2024 | ‘Capital gains tax hike not positive’: SRCC prof Saumya Aggarwal on NPS Vatsalya, new tax regime & more

Although many taxpayers anticipated the possibility of capital gains tax rationalisation in Budget 2024, not many were expecting the tax rates to be raised, said Saumya Aggarwal, assistant professor, department of commerce at Shri Ram College of Commerce, University of Delhi. In a telephonic interview with MintGenie, Aggarwal also spoke about the National Pension System … Read more

Budget 2024: Central govt employees may get 50% of last- drawn salary as pension under NPS, says report

Budget 2024: Central govt employees may get 50% of last- drawn salary as pension under NPS, says report

Budget 2024:As the Finance Ministry is gearing up to present the full fiscal year budget for 2024-25, the National Democratic Alliance (NDA) government isconsidering offering 50 per cent of the last salary drawn as pension under the National Pension System (NPS) to central government employees, according to a report by the Times of India. This … Read more

Income Tax Returns: Exemptions and deductions that are still allowed under new tax regime

Income Tax Returns: Exemptions and deductions that are still allowed under new tax regime

As a taxpayer, you must be aware of the fact that the new tax regime is now the default regime. Therefore, one has to opt for the old tax regime in case they want to avail one or more tax deductions and exemptions. The last date to file income tax return for financial year 2023-24 … Read more

NPS: What are the limits to invest in equity in Tier I and Tier II accounts?

NPS: What are the limits to invest in equity in Tier I and Tier II accounts?

If you want to save a handsome corpus till your retirement, you can opt for the National Pension System (NPS). It not only assured to give corpus at the time of retirement, it helps in wealth creation by investing in equity.  Within the NPS, subscribers can invest in two forms of accounts: Tier I and … Read more