Whole 80c investment limit is 1.5L.
And we can extend limits till 2L by adding 50k amount to NPS 80ccd(1b) section.
Does Employer cntribution to NPS comes under 80C 1.5L limit?
Whole 80c investment limit is 1.5L.
And we can extend limits till 2L by adding 50k amount to NPS 80ccd(1b) section.
Does Employer cntribution to NPS comes under 80C 1.5L limit?
No, the employer contribution to NPS (National Pension System) does not come under the 80C limit of 1.5 lakhs. It is covered under a separate section of the Income Tax Act, which is 80CCD(2).
Under this section, an individual can claim a deduction for the contribution made by their employer towards their NPS account, subject to certain conditions. The maximum deduction allowed under this section is 10% of the employee's basic salary plus dearness allowance (DA).
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