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Context:
NPS Vatsalya
Benefits of NPS Vatsalya Scheme
Early Savings Habits:
Long-term Accumulation:
Conversion to Standard NPS:
Portability:
Retirement Corpus:
Financial Education:
Family Financial Security:
Lifetime Benefit:
Changes in NPS as proposed in Union budget 2024
All about NPS and its eligibility ●The Central Government has introduced NPS for individuals to save a part of their income which can later be transformed into a pension and fulfil their retirement needs. ●A citizen of India, either a resident, non-resident or an Overseas Citizen of India, can open an NPS account. ●An individual can also claim tax benefits after making an investment in the NPS under Sec 80 CCD (1) within the overall ceiling of Rs. 1.5 lac under Sec 80CCC. ●Under subsection 80CCD (1B), NPS subscribers can also claim an additional deduction for investments up to Rs. 50,000 in NPS (Tier I). This deduction is over and above Rs. 1.5 lakh tax exemption under section 80C of the Income Tax Act 1961. You may read about the NPS in detail here: https://www.iasgyan.in/daily-current-affairs/national-pension-system |
Important articles for reference :
National Human RIghts Commission
International Human Rights Treaty
Sources:
PRACTICE QUESTION Q. Consider the following statements regarding the Mission Vatsalya recently seen in news:
Which of the above statements is/are correct? A.1 and 2 only B. 2 and 3 only C. 1 and 3 only D. 1 ,2 and 3 Answer: A |
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