Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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                            <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>Under the current income tax laws, if an employer is contributing towards the employee&#39;s NPS account, a deduction up to a certain percentage of salary qualifies for income tax deduction</em></p><p style="text-align:justify">In the Budget 2021, tax experts expect the government to fix some anomalies in the NPS with regard to income tax benefits. They say that this will help in increasing the attractiveness of the National Pension Scheme.</p><p style="text-align:justify">&quot;For contribution towards Tier I account up to 14% of the employer&rsquo;s contribution is permitted for central government employees but when it comes to other employees maximum up to 10% of the contribution from employer is eligible for deduction under Section 80CCD(2). The government should introduce amendments to take care of these anomalies to make the scheme just and fair for each category of subscribers,&quot; said Balwant Jain, an investment and tax expert.</p><p style="text-align:justify">Under the current income tax laws, if an employer is contributing towards the employee&#39;s NPS account, a deduction up to a certain percentage of salary (basic + DA) irrespective of any limit qualifies for income tax deduction under Section 80 CCD(2). For central government employees, it is 14% of salary and for others, the limit is 10%.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/budget/news/higher-income-tax-deduction-on-nps-likely-for-private-sector-employees-11610006117835.html" title="https://www.livemint.com/budget/news/higher-income-tax-deduction-on-nps-likely-for-private-sector-employees-11610006117835.html">click here</a> to read more.</p>                                                           
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                            <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>Under the current income tax laws, if an employer is contributing towards the employee&#39;s NPS account, a deduction up to a certain percentage of salary qualifies for income tax deduction</em></p><p style="text-align:justify">In the Budget 2021, tax experts expect the government to fix some anomalies in the NPS with regard to income tax benefits. They say that this will help in increasing the attractiveness of the National Pension Scheme.</p><p style="text-align:justify">&quot;For contribution towards Tier I account up to 14% of the employer&rsquo;s contribution is permitted for central government employees but when it comes to other employees maximum up to 10% of the contribution from employer is eligible for deduction under Section 80CCD(2). The government should introduce amendments to take care of these anomalies to make the scheme just and fair for each category of subscribers,&quot; said Balwant Jain, an investment and tax expert.</p><p style="text-align:justify">Under the current income tax laws, if an employer is contributing towards the employee&#39;s NPS account, a deduction up to a certain percentage of salary (basic + DA) irrespective of any limit qualifies for income tax deduction under Section 80 CCD(2). For central government employees, it is 14% of salary and for others, the limit is 10%.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/budget/news/higher-income-tax-deduction-on-nps-likely-for-private-sector-employees-11610006117835.html" title="https://www.livemint.com/budget/news/higher-income-tax-deduction-on-nps-likely-for-private-sector-employees-11610006117835.html">click here</a> to read more.</p>                                                           
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                            <p style="text-align:justify">-Livemint.com</p><p style="text-align:justify"><em>Under the current income tax laws, if an employer is contributing towards the employee&#39;s NPS account, a deduction up to a certain percentage of salary qualifies for income tax deduction</em></p><p style="text-align:justify">In the Budget 2021, tax experts expect the government to fix some anomalies in the NPS with regard to income tax benefits. They say that this will help in increasing the attractiveness of the National Pension Scheme.</p><p style="text-align:justify">&quot;For contribution towards Tier I account up to 14% of the employer&rsquo;s contribution is permitted for central government employees but when it comes to other employees maximum up to 10% of the contribution from employer is eligible for deduction under Section 80CCD(2). The government should introduce amendments to take care of these anomalies to make the scheme just and fair for each category of subscribers,&quot; said Balwant Jain, an investment and tax expert.</p><p style="text-align:justify">Under the current income tax laws, if an employer is contributing towards the employee&#39;s NPS account, a deduction up to a certain percentage of salary (basic + DA) irrespective of any limit qualifies for income tax deduction under Section 80 CCD(2). For central government employees, it is 14% of salary and for others, the limit is 10%.</p><p style="text-align:justify">Please <a href="https://www.livemint.com/budget/news/higher-income-tax-deduction-on-nps-likely-for-private-sector-employees-11610006117835.html" title="https://www.livemint.com/budget/news/higher-income-tax-deduction-on-nps-likely-for-private-sector-employees-11610006117835.html">click here</a> to read more.</p>                                                           
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Home हिन्दी

Higher income tax deduction on NPS likely for private sector employees

Published on Jan 8, 2021   Modified on Jan 14, 2021

-Livemint.com Under the current income tax laws, if an employer is contributing towards the employee's NPS account, a deduction up to a certain percentage of salary qualifies for income tax deduction In the Budget 2021, tax experts expect the government to fix some anomalies in the NPS with regard to income tax benefits. They say that this will help in increasing the attractiveness of the National Pension Scheme. "For contribution towards Tier I account up to 14% of the employer’s contribution is permitted for central government employees but when it comes to other employees maximum up to 10% of the contribution from employer is eligible for deduction under Section 80CCD(2). The government should introduce amendments to take care of these anomalies to make the scheme just and fair for each category of subscribers," said Balwant Jain, an investment and tax expert. Under the current income tax laws, if an employer is contributing towards the employee's NPS account, a deduction up to a certain percentage of salary (basic + DA) irrespective of any limit qualifies for income tax deduction under Section 80 CCD(2). For central government employees, it is 14% of salary and for others, the limit is 10%. Please click here to read more.

Livemint.com, 8 January, 2021, https://www.livemint.com/budget/news/higher-income-tax-deduction-on-nps-likely-for-private-sector-employees-11610006117835.html

Tagged with: National Pension Scheme

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