National Pension System incentives: higher tax exemption on lump sums, expanded employer deduction and Tier-II deductibility for central employees. The Finance Bill increases the tax-exempt portion of lump-sum NPS payments on account closure or opt-out, raises the allowable employer-side deduction for ... Summary
National Pension System incentives: higher tax exemption on lump sums, expanded employer deduction and Tier-II deductibility for central employees.
The Finance Bill increases the tax-exempt portion of lump-sum NPS payments on account closure or opt-out, raises the allowable employer-side deduction for Central Government contributions to employee NPS accounts, and makes Central Government employees' Tier-II NPS contributions eligible for deduction under the general savings deduction provision, with these changes operating prospectively for subsequent assessment years.
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TaxTMI 
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