NPS still holds tax benefits for those under the new tax regime

I believe there is a provision that allows claiming an additional deduction of up to Rs 50,000 from taxable income which is available exclusively on investing in NPS Tier I. Can it be availed by new tax regime followers? - Anonymous No. That's the short answer. If you are under the new tax regime and are investing in NPS Tier-1, you are not eligible to get the additional deduction of up to Rs 50,000. Only those who have opted for the old tax regime can apply for the additional deduction. However, there's still hope for individuals in the new tax regime. You can claim a

This article was originally published on January 24, 2024.