Tag - nps

Changes in Income Tax Law come into effect from April 1, 2018

Changes in Income Tax Law come into effect from April 1, 2018

Changes in Income Tax Law come into effect from April 1, 2018. Finance Minister Arun Jaitley proposed various income tax changes in the Budget 2018.  These changes will come into effect from April 1, 2018. These tax changes will impact on many taxpayers in a number of ways. However, he has kept the basic income tax rates, exemption and the slabs unchanged. Some key changes in income tax are a standard deduction for salaried employees, increase in cess and introduction of [...]

Read more...
income tax benefits from national pension scheme

Income Tax Benefits from National Pension Scheme

Income Tax Benefits from National Pension Scheme The government announced income tax benefits for investing in National Pension Scheme. Both salaried, as well as self-employed individuals, get these benefits on investing in NPS. NPS is also partially tax exempt on maturity. NPS is a retirement savings scheme, which enables an individual to accumulate savings during his working life. There are two types of NPS accounts – Tier I and Tier II. The Tier-I account is non-withdrawable till the individual achieves the age [...]

Read more...