NPS Deduction Rs. 50000/-

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  1. Ranbir Singh

    Ranbir Singh New Member

    Hi,

    My father is going to retire in the month of August'2016 at the age of 60 year. His taxable income is 4.5 lac for this year..
    I have heared that if the NPS corpus of individual is less than 2 lac, there is no need to take the annuity and 100% of corpus can be withdraw after reaching the age of 60 which can further be extendable upto 10 year also...

    Is above statement is correct...Is this advisable for him to claim the additional saving of 50,000 towards nps in this year and next year too... thx Ranbir
     
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