(PTI)
Pension fund regulator PFRDA is pitching for doubling the tax benefit under the NPS to Rs 1 lakh in the upcoming Budget, according to a whole-time member of the authority.The Pension Fund Regulatory and Development Authority of India (PFRDA) has also urged the government to extend the facility of tax free contribution of 14 per cent by the central government to its employees under the NPS to all categories of subscribers.The tax deduction under the NPS is Rs 50,000 at present.”For the Budget, we are trying to see that the Rs 50,000 investment which is tax free under National Pension System (NPS), it should be raised to an amount of Rs 1 lakh,” PFRDA Whole Time Member Supratim Bandyopadhyay told.
