NPS maturity amount
Nikita Sharma (175 Points)
28 July 2022
NPS maturity amount is taxable or exempt? kindly explain if exempt under which section.
Nikita Sharma (175 Points)
28 July 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160767 Points)
Replied 28 July 2022
Eligible for tax exemption on lumpsum withdrawal of 60% of accumulated pension wealth upon attaining the age of 60 or superannuation under section 10(12A).
Remaining 40% if invested in annuity plan, becomes tax-free, while annuity received is taxable.
madhav mehta
(2 Points)
Replied 30 June 2023
CAclubindia
