Budget 2022: Tax Deduction Limit for State Govt Employees Hiked from 10% to 14% on NPS Accounts [Read Finance Bill 2022]
![Budget 2022: Tax Deduction Limit for State Govt Employees Hiked from 10% to 14% on NPS Accounts [Read Finance Bill 2022]](https://www.taxscan.in/wp-content/uploads/2022/02/Budget-2022-Budget-session-budget-scan-Tax-Deduction-limit-State-Government-Employees-NPS-accounts-Taxscan.jpeg "Budget 2022: Tax Deduction Limit for State Govt Employees Hiked from 10% to 14% on NPS Accounts [Read Finance Bill 2022]")
The Finance Minister, Nirmala Sitharaman while giving her budget speech announced the hike in Tax Deduction limit for State Government Employees from 10% to 14% on NPS accounts. "Both Centre and States govt employees' tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt...
The Finance Minister, Nirmala Sitharaman while giving her budget speech announced the hike in Tax Deduction limit for State Government Employees from 10% to 14% on NPS accounts.
"Both Centre and States govt employees' tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees," Sitharaman said.
The Finance Minister also announced that the corporate surcharge will be reduced from 12% to 7%. It is noteworthy that the National Pension System has emerged as a popular investment scheme for retirement.
To Read the full text of the Finance Bill 2022 CLICK HERE
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