News > Tax deduction hiked from 10% to 14% on NPS accounts
Tax deduction hiked from 10% to 14% on NPS accounts
The Outreach | 01/02/2022 12:31 PM | Click to read full article
Finance Minister Nirmala Sitharaman in her budget speech announced that both Centre and States govt employees' tax deduction limit will be increased from 10% to 14% on NPS accounts.
"Both Centre and States govt employees' tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees," FM Nirmala Sitharaman said in her while presenting the Union Budget 2022-23.
