What would be your take-home pension under UPS, NPS in Rs 25k-Rs 1L salary brackets. Check calculations

What would be your take-home pension under UPS, NPS in Rs 25k-Rs 1L salary brackets. Check calculations

With the introduction of the Unified Pension System, it is essential to understand how it measures up against the existing National Pension Scheme (NPS) and the traditional Old Pension System (OPS). NPS involves investing a portion of the funds in the equity market, making it a relatively market-linked pension scheme. On the other hand, UPS, … Read more

Unified Pension Scheme (UPS): How it might stand out to be more beneficial than other schemes at retirement

Unified Pension Scheme (UPS): How it might stand out to be more beneficial than other schemes at retirement

The newest pension scheme for the government employees — Unified Pension Scheme’s primary objective is to consolidate various pension systems existing in the country into a unified framework. The initiative serves as a clear demonstration of PM Narendra Modi’s steadfast dedication to driving reform efforts that promote sustainable fiscal practices and safeguard the welfare of … Read more

ITR FY2024: What tax regime suits senior citizens who get pension benefits under NPS

ITR FY2024: What tax regime suits senior citizens who get pension benefits under NPS

ITR for senior citizens: The time to file Income Tax Returns (ITR) started for many in April 2024 who do not depend on their employers for their Form 16. Filing income tax returns is quite challenging for many, particularly senior citizens, who may encounter difficulties due to prevalent misconceptions. One prevalent misunderstanding is the belief … Read more

ITR filing: I-T dept introduces 3 utilities for filing ITR form 3 for AY 2024-25. Check details.

ITR filing: I-T dept introduces 3 utilities for filing ITR form 3 for AY 2024-25. Check details.

Income Tax filing 2024: The Income Tax Department has released offline, online, and Excel utilities for ITR-3 for taxpayers for FY 2023-24 (AY 2024-25). To file the returns this year, individuals who need to file ITR-3 can now use one of utilities — offline (Java), online or Excel-based.  The three utilities are now available for … Read more