Have some queries on tax saving through NPS, please help. My employer doesn’t contribute to NPS for me.
If I open NPS by myself, can I save tax? The tax saving will be only 10% of my basic salary + DA –> if basic is 10000 and DA is 10000 then benefit through NPS is up to investment of 2000/- only, Is this understanding correct? (i.e. for 10% tax, 200/- saving!)
Heard there are tier 1 and tier 2 accounts. Does the tier 2 account has tax benefits? Can the tier 2 amount be withdrawn without buying any annuity?
Thanks & Regards,