hello,
I have some amount in nps tier II, on the internet I read that no tax is cut if I transfer the money to tier I.
q1) if I keep the money in tier II for more than one financial year, and transfer the money from tier II to I , then will the tax be cut?
q2 how tax is cut on tier II.
yours sincerely
Transfer: Moving funds from Tier II to Tier I is a tax-neutral event.
Taxation: Tier II is not tax-efficient; its returns are generally subject to your marginal income tax rate upon withdrawal.
Strategy: While you can transfer Tier II funds to Tier I, doing so does not retroactively grant tax benefits to those funds. The primary advantage of this transfer is often moving funds into the more "locked-in" and regulated environment of Tier I.
Chirag N Shah & Associates
Mumbai
CA Inter
View Details
CAclubindia
Pro
Modal body text goes here.
CAclubindia
