After the Budget 2023, what are the NPS Tax Benefits 2023 under the new tax and old tax regimes? This confusion started mainly because the government stressed promoting the new tax regime rather than the old one. Hence, let us understand the NPS tax benefits in both regimes in detail.
All of you know that during the Budget 2020, the Government introduced a new tax regime. Also, the Government gave you the option to choose either the old tax regime or the new tax regime.
However, if you try to choose the new tax regime, then you have to forget certain deductions and exemptions. I have written a detailed post on this. You can refer to the same “New Tax Regime – Complete list of exemptions and deductions not allowed“.
Because of these changes, many of us have been confused about what will be the NPS Tax Benefits 2023.
NPS Tax Benefits 2023 – Under New Tax and Old Tax Regimes
Now let us understand the various taxation issues with respect to NPS.