Economics · Economy
With respect to the National Pension System (NPS), consider the following statements: 1. NPS is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). 2. At superannuation (age 60), a subscriber can withdraw up to 60% of the corpus as a tax-free lump sum, while at least 40% must be used to buy an annuity. 3. An additional income tax deduction of 50,000 is available for NPS investments under Section 80CCD(1B), over and above the 1.5 lakh limit of Section 80C. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 and 2 only
- 21 and 3 only
- 32 and 3 only
- 41, 2 and 3✓
Correct answer
1, 2 and 3
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