what will be income tax on switching amount from NPS TIER 2 to NPS TIER 1. NPS does not issue any capital tax gain statement. They replied they only issue statement of amount invested in TIER 1. Some videos on YouTube say it will be tax free
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This discussion clarifies the tax implications of transferring funds from NPS Tier 2 to Tier 1. NPS is not considered a capital asset, meaning that switching amounts between tiers does not trigger capital gains tax. Therefore, the transfer amount from Tier 2 to Tier 1 is generally tax-free.