Opening an NPS Account

 Opening an account in the New Pension System (NPS) was once considered an uphill task. Now it takes just 25-30 minutes. If you have an account in any of the 17 banks empanelled with the National Securities Depository Ltd (NSDL) and it is linked to your PAN, you can apply online for an NPS account at enps.nsdl.com. The bank will do the KYC and clear your application if everything is in order. It's a fairly seamless process and doesn't take too much time.

Investors whose Aadhar card is linked to their bank account and mobile numbers can also apply online.They will receive a one-time password on their registered mobile numbers for validation.

Within minutes of submitting the online application, the investor will be allotted a PRAN (Permanent Retirement Account Number) which can then be used to invest in the scheme. This ease of investment will be especially useful for taxpayers who had stayed away from the NPS till now but want to join after the tax exemption announced in this year's budget. They can avail of the additional tax deduction of up to Rs 50,000 under Section 80CCD(1b) by investing in the NPS. Even those who don't have liquidity can join because the NSDL allows payment by credit card as well. However, credit and debit card users will have to shell out up to 1% of the investment as charges to the payment gateway .

Investors whose PAN and Aadhar are not linked to their bank accounts might miss the NPS bus this year. NSDL is receiving a large number of NPS applications processing can take up to 15-20 days.By the time one receives the PRAN, the 31 March deadline for investment would have passed.

For those investing in the NPS, choosing the right pension fund is critical because they will not be able to change for at least one year. The NPS funds of ICICI Prudential Pension Fund have been top performers in the past 3-year and 5-year periods. As the table shows, ultra-safe investors who put 60% in government bonds, 40% in corporate bonds and nothing in equity funds have gained the most in the past 3-5 years.

-----------------------------------------------

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

-----------------------------------------------