National Pension Schemes(NPS)
NPS scheme is portable across jobs and locations. The added benefit is the returns from equity and debt investments.
All your contributions up to Rs. 1.5 Lac to Tier I capital are exempted under section 80C. Plus you can claim an additional up to Rs. 50,000 of tax benefits.
So here you can save Rs. 2 Lacs of tax.
- You can’t withdraw before 60 years of age.
- Thereafter, you can withdraw only 60% which is tax-free and the rest
- 40% of the corpus is kept to receive a regular pension.