U/s 80cce (2) employer contribution
This query is : Resolved
20 April 2012
Dear Sir,
I Want clarification of 80cce(2) employer contribution of NPS. Is it fully deductible or Over all 1 lakh limit to employees.
I Want clarification of 80cce(2) employer contribution of NPS. Is it fully deductible or Over all 1 lakh limit to employees.
20 April 2012
The amount contributed by the employer is exempt to the extent of 10% of salary.
.
Such contribution will be covered in the limit of Rs. 100000/- as prescribed U/s 80CCE. Suppose LIC, NSC Purchased of Rs 30000/- and contribution in NPS is Rs. 80000/- maximum deduction available will be Rs. 1.00 lac.
.
.
Such contribution will be covered in the limit of Rs. 100000/- as prescribed U/s 80CCE. Suppose LIC, NSC Purchased of Rs 30000/- and contribution in NPS is Rs. 80000/- maximum deduction available will be Rs. 1.00 lac.
.
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