I have opened NPS account with Zerodha.
KFinTech is the middlemen(not sure about the exact word to describe them)
Is it possible to transact on NPS portal without logging in to Zerodha ?
Will such TXNs get reflected on Zerodha NPS ?
Why is a charge levied for every contribution w.r.t NPS ? I heard that it is around ₹5 for direct NPS contributions and around ₹30 when done through Zerodha ?
KFIinTech is CRA that hold the records in your case, this one of 3 existing CRA approved from NPS trust.
Yes, you need to login into CRA website, in your case KFinTech and apply for the D-Remit account.
After this you able to transact with UPI and free without any charge, if you done transcation before 9 AM same day NAV allocations also facilated.
Thanks
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Why is NPS so complex with so many charges ?
Why hasn’t this been simplified ?
Why not a flat fee taking into account the number of TXNs & some quarterly charges ?
Thank you for your answer. I checked few websites and Actually it’s 20% long term and slab rate short term. If we are so inclined to give more money to the govt we should go to tier2 NPS . There’s no benefit apart from this . (Expense ratios are not there but taxes eat away more than expense ratios)
The Tax Benefits for Tier-1 are as follows:
An additional deduction for investment up to Rs. 50,000 in NPS (Tier I account) is available exclusively to NPS subscribers under subsection 80CCD (1B). This is over and above the deduction of Rs. 1.5 lakh available under section 80C of Income Tax Act. 1961.
Apart from this, there are tax benefits (exemption) on partial & lumpsum withdrawal, as well as annuity purchase. You can read more about it here: FAQ (NSDL)
All these benefits are not applicable on Tier-2.