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NPS partial withdrawal rules and how it is taxed

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Hemant

This is definitely not a social security of any kind to the working class, who have contributed their major part of life to the nation building including tax payments.But in their later part of life, their own contribution is subjected to rules and regulations. This is one of the worst regulation like slavery in toto. Why government and babus design such atrocious things for their citizens? Actually there is no social security for Indians of any kind, and these guys compare themselves with developed nations on taxation and GDP numbers. A total farce.

Krishna Chaitanya (Bengaluru)

"The returns on NPS Tier 2 account contributions are taxable at slab rates as applicable to the individuals."Can the author substantiate his claim made, in the above closing line from the article, with evidence available in public domain or with a reference to the statute.

Rewarding

what kind of social security is this? my money being used by the government for golden years of my life and then being returned in installments and no one utters a word

Vilas

The least they can do is start refunding the cumulative income tax paid during working years in ten equal installments , after attaining the age of 70 years.

Ramakrishnan

It is ironical that even after 70 years of our governments, no unambiguous social security schemes have been put in place.Any why discriminate from one section of people to another.Government of the day should start a social security umbrella scheme,comprising Provident fund,Pension,gratuity ,unemployment doleand medical and disability insurance.A start can be made with rs.3500 per month,with contributions equally shared between employers, employee,state and central governments. It is sad our left parties were only interested in destroying industry, thereby indirectly destroying our country,instead of working for a universal social security net for the employees.

It’s a big joke that Govt contributes zero social benefit to Sr citizen but don’t spare sucking their money to fly in airforce two aircraft

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