Is NPS Covered in sec 80c deduction is only for salariesd employed person and not for self employed / busmiessman??
5 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 05 July 2021
Deduction can be claimed even by self-employed subscribers u/s 80CCD(1) and 80CCD(1B).
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 05 July 2021
No interest is applicable. Contributions would be invested equity shares, debentures etc. From past performances, we can expect an appreciation of about 8-10% pa
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 05 July 2021
60% can be withdrawn upon retirement, 40% to be used for buying annuity, the return from which will fetch you monthly pension.
To know more, you may read my article on NPS: https://www.caclubindia.com/articles/national-pension-system-nps-44748.asp
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