RBI Grade B Officer 28 May 2022 Paper

Question : 74 of 200

Marks: +1, -0

Which of the following statements is incorrect?

The contribution under Tier-II of the National Pension Scheme is covered under Section 80C for deduction up to Rs. 1.50 lakh for income tax benefits.
NPS is limited to EEE, to the extent of 60%. 40% has to be compulsorily used to purchase an annuity, which is taxable at the applicable tax slab.
Contributions to NPS receive tax exemptions under Section 80C only.
In 2018, the Government of India made NPS an entirely tax-free instrument in India where the entire corpus escapes tax at maturity; the 40% annuity also became tax-free.
None of these

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