Extending the benefit of tax-free withdrawal from NPS to non-employee subscribers
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....xtending the benefit of tax-free withdrawal from NPS to non-employee subscribers <br>Budget<br>Dated:- 5-2-2018<br><BR>Extending the benefit of tax-free withdrawal from NPS to non-employee subscribers....
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.... Under the existing provisions of the clause (12A) of section 10 of the Act, an employee contributing to the NPS is allowed an exemption in respect of 40% of the total amount payable to him on closur....
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....e of his account or on his opting out. This exemption is not available to non-employee subscribers. In order to provide a level playing field, it is proposed to amend clause (12A) of section 10 of the....
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.... Act to extend the said benefit to all subscribers. This amendment will take effect, from 1st April, 2019 and will, accordingly, apply in relation to the assessment year 2019-20 and subsequent assess....
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....ment years. [Clause 5]<BR> News - Press release - PIB....


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