Deduction of nps
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 January 2015
frnd my query is... 1. Wether both employee nd employor's contribution becomes part of salary for computing salary. 2. Whether contribution of both will be coverd under section 80ccd. My second query is becouse undr section 80cce it is written that deduction u/s 80c, 80ccc, 80ccd(1) shall nt be more than 1 lakh (nw 1.5) so because employee cntributn is covrd u/s 80ccd(1) nd of employer u/s 80ccd(2) it means employrs cntributn is fully deductibl without any time.. So plz give me ur advise..
22 January 2015
The contribution by the employee to the NPS will be subject to the limit of Rs 1,50,000. Section CCD (2) provides that deduction in respect of contributions by the Central Government or any other employer to NPS available under Section 80CCD (2) will not be subject to the limit specified in Section 80CCE but it is subject to 10% of Basic + DA maximum. The tax benefits are available only in the case of Tier I account not in Tier II account.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 January 2015
thnku anil sir.. Bt i dont undrstand wethr deductn of employr contributn (sbject to limit u said) will b available nd if available, undr which section
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
