Income Tax Exemption for amount withdrawn from NPS and EPF

Income Tax Exemption for amount withdrawn from NPS and EPF

NPS (National Pension System) and EPF (Employee Provident Fund) are retirement benefit schemes applicable for salaried employees. NPS is applicable for Central Government Employees who joined in the service on or after 1st January 2004 and private employees. Early withdrawals in EPF has been restricted with effect from 10th February 2016 at par with NPS

PPF Subscription Limit increased to Rs. 1.5 lakh

PPF Subscription Limit increased to Rs. 1.5 lakh – Department of Posts issues orders citing Finance Ministry’s Order Consequent on increase in savings limit under Section 80 C of Income Tax Act for getting rebate / exemption on Income Tax to Rs. 1,50,000/-in the recent budget 2014-15, PPF Subscription Limit has been increased Rs. 1,50,000 by…