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Contributions to NPS receive tax exemptions under Section 80C, Section 80CCC, and Section 80CCD(1) of the Income Tax Act. Starting from 2016, an additional tax benefit of Rs 50,000 under Section 80CCD(1b) is provided under NPS, which is over the ₹1.5 lakh exemption of Section 80C. [18] [19] [20] Private fund managers are important parts of NPS.
Financials as of 31 March 2024. [update] [3] Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹52.52 trillion (US$630 billion) as of ...
The Public Provident Fund (PPF) is a voluntary savings-cum-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
www.camsonline.com. Computer Age Management Services Limited (CAMS) is a mutual fund transfer agency serving Indian asset management companies. [2][3] The company was incorporated in 1988 and is headquartered in Chennai. It became publicly listed in October 2020, subsequent to an initial public offering (IPO) through an offer by its existing ...
The first unit-linked insurance plan was launched by Unit Trust of India. [1] With the Government of India opening up the insurance sector to foreign investors in 2001 [2] and the subsequent issue of major guidelines for unit-linked insurance plans by the Insurance Regulatory and Development Authority, now the Insurance Regulatory and Development Authority of India, in 2005, [3] several ...
Provisions. Pradhan Mantri Suraksha Bima Yojana is available to people (Indian Resident or NRI) between 18 and 70 years of age with bank accounts. It has an annual premium of ₹20 (24¢ US). Goods and Services Tax (GST) is exempted on Pradhan Mantri Suraksha Bima Yojana. The amount is automatically debited from the account.
National Savings Certificates, popularly known as NSC, is an Indian Government savings bond, primarily used for small savings and income tax saving investments in India. It is part of the postal savings system of India Post. These can be purchased from any Post Office in India by an adult (either in his/her own name or on behalf of a minor), a ...
Website. www.reliancegeneral.co.in. Reliance General Insurance Company Limited is an India -based private insurance company and is part of Reliance Anil Dhirubhai Ambani Group, wholly owned through Reliance Capital. As of March 31, 2021, Reliance General Insurance's distribution network is composed of over 129 branches with more than 52,595 ...