By issuing Notification No. 127/2024, the Central Board of Direct Taxes (CBDT) has amended Section 10(23FE) of the Income-tax Act. The updated rules simplify compliance and increase the range of assets available to pension funds (PFs) and sovereign wealth funds (SWFs). In line with India's economic objectives, these adjustments are meant to draw in long-term investments in the social development and infrastructure sectors.

The features, benefits, eligibility requirements, investment possibilities, and tax advantages of the National Pension System (NPS) are all covered in this extensive reference. Find out how investing in NPS might help you accumulate a sizeable corpus for your retirement and make an educated choice.

Form 10BBB is essential for notified Pension Funds to report their investments and claim tax exemptions under section 10(23FE) of the Income-tax Act. This blog provides a detailed guide on the purpose of Form 10BBB, who needs to file it, the contents required, and a step-by-step process for filing. It emphasizes the importance of accurate and timely submission to maintain the tax-exempt status of the Pension Fund. Avoid common mistakes and ensure compliance to benefit from the exemptions and contribute to infrastructure growth.

National Pension System (NPS) is a tax-saving instrument designed for retirement planning. This blog post provides a comprehensive understanding of NPS, including its types, workings, and eligibility criteria.