NPS(National Pension System)
National Pension System
(NPS) is a Indian
government-sponsored pension scheme.
managed by Pension Fund Regulatory and Development Authority .This
scheme for old and retired people to
stay independent financially .you will get total tax benefit 2lakh/annual ( 1.5
lakh exemption under 80C Addition 50000 will get under 80CCD(1B).Any Indian who
if between 18 to 60 age free to join NPS system anytime abides by the kyc
norms. Those who are NRI they can join with this scheme whose have a bank
account and valid communication address in India, but those NRI contributing to
this scheme and changes his /her citizenship, NPS account need to be closed.
Documents needs for kyc like cancel cheque ,
address proof &self -certified copy of ID.
Types of NPS account
Tier1
account:
From this
type of account you cannot withdraw money until you reach 60 years of age &
partial withdraw is allowed only emergency purpose (marriage , illness etc).In
this account minimum 6000/annual have to contribute.
Tire2
account :
This account just like a savings account.no tax benefit, no restriction on withdrawal.
No comments:
Post a Comment