5 BENIFITS OF INVESTING IN NPS MONEY SAVING TIPS – 5 Benefits of investing in NPS, you will get tax exemption and the bank can never confiscate your money
By investing in NPS, you can remain tension free after retirement where you do not have to pay tax and both husband and wife can invest together.
New Delhi. NPS (National Pension System) is such a deposit for the common man which is useful after his retirement. Where his earning capacity starts decreasing and the means of earning start shutting down, NPS only supports him where a fixed amount of pension is available every month so that he can live with self-respect without having to depend on someone else.
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Know the benefits of investing in NPS
A) Exemption from investment limit
There is flexibility in investing in NPS which makes investing easy. Where there is a fixed maximum limit in other investment options, it does not happen in NPS, it can be invested according to convenience and most importantly, it is also more beneficial in tax exemption.
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B) Equal benefits to both husband and wife
Nowadays, in this era of inflation, where the prices are touching the sky every day, it becomes difficult to go home at the expense of a single person, so many people earn money together with both husband and wife. With the help of NPS, both can invest in this scheme and both can get tax exemption from their side.
C) Employer’s benefit as well as employee
Employer also encourages the employee for NPS as his employee will get tax exemption along with more benefits. While the employee gets exemption under 80C, the employer gets tax relief under 36(1).
D) Tax saving
On depositing money in NPS, there is more tax exemption of 50 thousand under the Income Tax section and this exemption is more than the exemption of 1.50 lakh given in section 80C.
E) No one can confiscate NPS
Many times you must have heard that when a person becomes insolvent, the bank confiscates all his property, but the government falls behind after washing its hands, but no one can confiscate the amount deposited in NPS, that money only yours. In this way NPS can be considered as one of the safest investment instruments.
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