Any idea on NPS , is it good to have one ? nee...

Any idea on NPS , is it good to have one ? need inputs who are aware and already invested in it tIA

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Deal Cadet
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Need some information on NPS, is it good to open an account now, since the income tax slabs will change we we are not claiming any deductions.

Need inputs from  dimers , TIa

10 Comments  |  
6 Dimers
Missing
Deal Lieutenant
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As of now IT slabs are same and new IT scheme with no deductions beneficial only for high earners or those who can not save for deductions. And this new IT scheme is optional.
So NPS is good to save few more bucks. You may prefer HDFC scheme 50+25+25(ECG)

Missing
Deal Cadet
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go to you tube, and search NPS national pension scheme or system. there are lots of explanation in different languages.
for creating the account there are clearly explained the steps in youtube clearly follow.
it needs to be attached a cancelled cheque, photo and signature in small sizes. so firstly create these jpg sized files .
first installment is maximum 49999 so you may do that.
only usable for inverstment 49999 is netbanking.
after paying there will be receipt download option .“MUST DOWNLOAD RECEIPT” for incometax paper submit purpose if needed in office
. bank must approve your KYC, so after completion of the online request, conact branch manager next day and request them to approve. MOST OF THE BRANCH MANAGERS ARE UNAWARE ABOUT THIS AND HOW TO DO . If we not requested hem i will delay the KYC process and opening your nps account
after opening the acocun you can login and see all details

Missing
Critic
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caks2006407 wrote:

As of now IT slabs are same and new IT scheme with no deductions beneficial only for high earners or those who can not save for deductions. And this new IT scheme is optional.
So NPS is good to save few more bucks. You may prefer HDFC scheme 50+25+25(ECG)

Define “high earners”
The new regime is not beneficial even for someone earning 20 L a year.

Missing
Critic
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For new NPS accounts, the easiest option is via ICICI Direct, if you have an account with them. Next best is directly from the E-NPS site. The operational cost in E-NPS is less than normal NPS.
It has the least administrative charges among all mutual funds and more suited if you are minimum risk taker and want to invest only a part of your money in equity and balance in debt funds.

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Deal Cadet
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panchabhut wrote:

For new NPS accounts, the easiest option is via ICICI Direct, if you have an account with them. Next best is directly from the E-NPS site. The operational cost in E-NPS is less than normal NPS.
It has the least administrative charges among all mutual funds and more suited if you are minimum risk taker and want to invest only a part of your money in equity and balance in debt funds.

What’s the benefit of nps and how much risk is there ?

Missing
Deal Cadet
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panchabhut wrote:

For new NPS accounts, the easiest option is via ICICI Direct, if you have an account with them. Next best is directly from the E-NPS site. The operational cost in E-NPS is less than normal NPS.
It has the least administrative charges among all mutual funds and more suited if you are minimum risk taker and want to invest only a part of your money in equity and balance in debt funds.

Thanks

Missing
Deal Lieutenant
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Expand
panchabhut wrote:

Define “high earners”
The new regime is not beneficial even for someone earning 20 L a year.

high earners >= 50lacsPA – I had this mind
But now after going through calculations, yes as u said its not useful even for income > 50lacs also
This new scheme seems to be useful only for people with low incomes like 5-6lacs PA and can not save enough to invest Tax saving investments

Missing
Deal Newbie
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Yes, NPS is the best retirement product. This will not only help in creating a good inflation-adjusted corpus but also save your money from tax

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