Which statement is correct regarding National Pension Scheme NPS Account 1 There are two types of NP...........

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Which statement is correct regarding National Pension Scheme(NPS) Account?

1.There are two types of NPS accounts.

2.NPS Tier 1 Account- There are tax benefits under this account. But the withdrawals are subject to certain conditions and restrictions.

3.NPS Tier 2 Account- Account holders can invest an additional amount under tier II account. Here, they are free to withdraw the whole corpus at any point in time. There are no tax benefits associated with this account type.

only 1

only 2

All of the above

None of the above

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Explanation:

NPS Account Types-
There are two types of NPS accounts. They are briefly explained below:

NPS Tier 1 Account-
There are tax benefits under this account. But the withdrawals are subject to certain conditions and restrictions as explained above.

NPS Tier 2 Account-
Account holders can invest an additional amount under tier II account. Here, they are free to withdraw the whole corpus at any point in time. There are no tax benefits associated with this account type.