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Explore lesser known tax saving tips beyond Section 80C investments like PPF and ELSS, such as Section 80GG for rent expenses, Section 80D for medical insurance premiums, and Section 80CCD(1B) for NPS contributions.
Taxpayers should note that the NPS-related deduction under Section 80CCD (2) of the Income-tax Act, 1961, is the only exemption allowed under both the tax regimes.
Personal Finance News: Investors in Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and National Pension System (NPS) must deposit a minimum amount in their accounts each year to keep them active. If they miss this deposit, their accounts can be frozen, and they may face penalties. Find out the minimum deposit requirements for PPF, SSY, and NPS accounts to avoid penalties.
New Delhi, Jan 23 (PTI) The government may make the National Pension System (NPS) more attractive by extending tax concessions on contributions and withdrawals especially for senior citizens above 75 years.