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Dec 31, 2012, 04.50 PM IST | Source: Moneycontrol.com

2013: Time to invest in new Pension Scheme

Please focus your investment strategy for the year 2013 on investment vistas connected with New Pension Scheme.

By Subhash Lakhotia, Tax Guru : CNBC Awaaz, Tax & Investment Consultant

Please focus your investment strategy for the year 2013 on investment vistas connected with New Pension Scheme. Although by now the New Pension Scheme popularly known as NPS is into operation for the last couple of years. However, still now NPS investment has not become the darling of tax payers of India. However, it is time now to show your love and affection to the investment in new Pension Scheme.  It is time now for you to study the new provisions in greater detail and try to open separate NPS account for different members in your family. For those tax payers who are having high income and wealth, it is recommended that two tier account in NPS should also be obtained. Finally if you are going to complete sixty years of age during the year 2013, then you should be more careful to immediately open NPS account in your name. This is mainly because of the fact that once you have completed sixty years of age, you cannot open a new NPS Account. Please note that after sixty years of age one cannot go in for opening an NPS account. But if you have already opened NPS account, then you can continue contributing in the said account. Hence, in  the year 2013 you should aim at bringing NPS as a preferred tool of investment in your family. 

The author is Tax and Investment Consultant at New Delhi for last 40 years.  He is also Director of M/s R.N. Lakhotia & Associates LLP & The Strategy Group.E-mail : slakhotia@airtelmail.in

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