Sent from Samsung Mobile
Search This Blog
31 May 2015
29 May 2015
27 May 2015
25 May 2015
24 May 2015
20 May 2015
18 May 2015
National pension system NPS
Get additional tax benefit of up to Rs. 50,000 a year under Section 80CCD which is over the limit of Rs. 1.5 Lakh under Section 80C of Income Tax Act.
ILLUSTRATION : To Know how much pension you will get in National Pension System (NPS) once you retire.
Your Present Age : 30 Years
Your Expected Retirement Age : 60 Years
Investment Amount : Rs.2,000 per month
(To avail maximum tax benefit, contribute 10% of your Basic income + DA towards NPS ) Assumed Rate of Return : 8%
On reaching your retirement at : 60 years
The Principal amount you have paid is : Rs.7,20,000
Interest earned on your Investment is (on monthly compounded basis) is : Rs.22,48,609
Total Tax saved is : Rs.2,16,000
Total Pension Accumulated is : Rs.29,68,609
Highlights:
Regulated by pension fund...(PFRDA), Statutory body by an Act of Parliament
Minimum annual contribution of Rs. 6000 a year
Choose your Fund Manager
Choose your allocation between Equities, Govt. Bonds & Govt. Securities
Start getting pension after age 60
Minimum term 10 years
Minimum annual contribution of Rs. 6000 a year
Choose your Fund Manager
Choose your allocation between Equities, Govt. Bonds & Govt. Securities
Start getting pension after age 60
Minimum term 10 years