NewProposed tax benefits aim to boost savings for children’s retirement under NPS Vatsalya.
The 2025 Finance Bill proposes tax benefits for NPS Vatsalya, a scheme allowing parents to save for their children’s retirement. Contributions will now qualify for tax deductions under section 80CCD (1B), and withdrawals for emergencies won’t be taxed. The changes, pending parliamentary approval, also exempt death benefits from being considered as income for parents. This aims to encourage more savings while supporting families and children.
2 months ago
4 Articles
Articles
Further Reading
Only 1 story left this month. Keep reading without limits — Subscribe now!