The government intends to entice people to switch to the new tax regime, which has lower tax rates but far fewer exemptions or deductions. Currently, contributions of up to Rs 50,000 to the National ...

How to claim deductions of more than Rs. 2 lakhs on NPS contributions? Under Section 80CCD of the Income Tax Act, an individual can claim deductions from taxable income for contributions made to the ...

NPS Vatsalya 2025: During her Budget speech, Finance Minister Nirmala Sitharaman revealed that subscribers of the pension ...

NPS Vatsalya scheme: Finance Minister Nirmala Sitharman on Saturday proposed tax exemption for contribution up to Rs 50,000 per year under the NPS Vatsalya Scheme, the children's welfare scheme ...

Excessive tax deductions trigger audits when claims are disproportionate to income, lack documentation, or mismatch AIS data.

Tax calculations: The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower tax rates and reducing deductions. This restructuring aims to simplify taxation, ...

The NPS pension scheme allows salaried and self-employed individuals to build retirement savings with flexible options, tax ...

The National Pension System (NPS) has gained traction over the years, particularly among private sector employees who had limited retirement savings options. Initially introduced in 2004 for ...

MUMBAI: Finance Minister Nirmala Sitharaman has announced that NPS Vatsalya subscribers will receive the same tax benefits under Section 80CCD(1B) as regular NPS subscribers for their contribution, ...

In India’s progressive tax regime, finding legitimate ways to reduce taxable income is a financial skill that can help individuals retain more of their earnings while building long-term wealth. Most ...