Ch.1 · Comparing Financial Products · hard
Which of the following is the CORRECT distinction between the NPS Tier I and Tier II account?
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EXPLANATION
NPS Tier I is the mandatory pension account with strict withdrawal restrictions and tax benefits under Sections 80CCD(1) and 80CCD(1B). Tier II is a voluntary add-on savings account with no withdrawal restrictions but no additional tax deduction (except for government employees).
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