Higher tax benefit on NPS
04-04-2022 10:20:14
From 2022-23, state government employees can claim tax breaks of up to 14 percent of their basic salary and dearness allowance on their employers’ contributions to their National Pension System accounts. Until now, the tax break was capped at 10 percent for state government and private sector employees – only Central government employees enjoyed the higher tax concession
For private sector employees, the maximum deduction remains 10 percent.
