Nps

This query is : Resolved

Sabita Sahoo (Querist)
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26 March 2018 A state govt.employee has own annual NPS contribution of Rs.51000/-(10% of basic pay + DA)The govt.also deposit Rs.51,000/-.The employee has saving Rs.150000 in l.I.c under sec 80C.Now can he claim his NPS contribution under sec 80 CCD(1B)?Again can govt.share of Rs.,51000/- be claimed as deduction u/s 80 CCD(2)?

Guest

Guest (Expert)

26 March 2018 Yes, govt. share can be claimed full here. Extra deduction of your contributions would be:
LIC: 1.5 lac
NPS: 50,000 (maximum permissible)

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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26 March 2018 NPS deduction of Rs.0.50lacs over and above Rs.1.50 lacs is available provided the amount invested is in Tier 1 account

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