NPS withdrawal exemption expanded and deduction cap for self-employed raised to align with employee benefits. Partial withdrawals from NPS by employee subscribers are made tax exempt up to a specified portion of the employee's own contributions under the Pension ... Summary
NPS withdrawal exemption expanded and deduction cap for self-employed raised to align with employee benefits.
Partial withdrawals from NPS by employee subscribers are made tax exempt up to a specified portion of the employee's own contributions under the Pension Fund Regulatory and Development Authority framework, and the deduction ceiling for NPS contributions by individuals other than employees is increased to achieve parity with employed individuals; both amendments apply from the relevant fiscal year and to the corresponding assessment year onward.
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