Last Updated:February 20, 2025, 13:33 IST For withdrawals, NPS allows 25% of contributions to be withdrawn up to three times during employment, with 60% of the corpus being tax-free post-retirement and 40% going to annuities. NPS offers flexibility in contributions, with employers able to contribute up to 14% of the basic salary without requiring employee…
Last Updated:February 19, 2025, 15:15 IST As the 2024-25 financial year ends, tax planning is key. Choose between old and new tax regimes based on income and investments. While the old regime offers more exemptions; the new has lower rates The new tax regime offers limited exemption options but presents the possibility of a lower…
Clear (formerly ClearTax), an online tax filing platform, has released a trend report, providing a comprehensive comparison of income tax return filings between the Old Regime and New Regime. The report indicated a notable shift in taxpayer preference, with 15% of individuals choosing the New Regime whereas 85% still opting for the Old Regime. The…