state gov TSPSC Junior Lecturer Mock Test 2022 Current Affairs Government Policies and Schemes Social Security Schemes
Which of the following statements is incorrect?
1
The contribution under Tier-II of the National Pension Scheme is covered under Section 80C for deduction up to Rs. 1.50 lakh for income tax benefits.
2
NPS is limited to EEE, to the extent of 60%. 40% has to be compulsorily used to purchase an annuity, which is taxable at the applicable tax slab.
3
Contributions to NPS receive tax exemptions under Section 80C only.
4
In 2018, the Government of India made NPS an entirely tax-free instrument in India where the entire corpus escapes tax at maturity; the 40% annuity also became tax-free.