HI..
thanks for such good app for providing valuable information.
Now I m a state government employees
my question related with tax savings
As State governments employees by contributing is going to NPS which emplyeer detected from my salary.
Can i claim such NPS amount against Section 80CCD (2) or need to invest more 50000 to claim it.
however i consumed my 80c savings from other investments like PPF,MF Else and insurance.
kindly clarify me on the same.
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Replies (8)
Quick Summary
Employer contribution to NPS is deductible upto 50000/- (over and above 150000/-)
Further it is restricted to 10% of Salary.
Further it is restricted to 10% of Salary.
Extra 50k can be utilised u/s 80ccd(ib)
Upto 50k under NPS but not greater than 1.5 L u/s 80c
It is over n above 1.5 therefore 1.5+ .5
Sir one more thing to clear to me
as a State governments employees my 10% of salary going to NPS which my employer cut and deposit to NPS account i e total amout Rs.65000
So can i claim such 50000 against section 80CCD2B instead of 80C and 80 limit 1.5 lac fill by contribution in PPF, MF ELSS and insurance policy payments , also remaining 15000 NPS which is surplus after clain in 80ccd2b
as a State governments employees my 10% of salary going to NPS which my employer cut and deposit to NPS account i e total amout Rs.65000
So can i claim such 50000 against section 80CCD2B instead of 80C and 80 limit 1.5 lac fill by contribution in PPF, MF ELSS and insurance policy payments , also remaining 15000 NPS which is surplus after clain in 80ccd2b
I repeat my above reply -
Employer contribution to NPS is deductible upto 50000/- (over and above 150000/-)
Further it is restricted to 10% of Salary.
It's only for Employer's contribution.
Employer contribution to NPS is deductible upto 50000/- (over and above 150000/-)
Further it is restricted to 10% of Salary.
It's only for Employer's contribution.
I read your reply but my i am still not understand , bsc I am not asking for employer contribution i asking for my contribution that employer deducted which i wish not to setoff against 80c limit,
same I wish to set off against 80ccd2b and 80C limit 1.5lac cover through other 80 investment instruments.
so plz clear on the same.
same I wish to set off against 80ccd2b and 80C limit 1.5lac cover through other 80 investment instruments.
so plz clear on the same.
50000/- additional deduction under 80CCD(2)(b) does not cover Employee contribution meaning contribution in the form of deduction from salary
In the case you will get NPS deduction under 80CCD which is included in 80C max limit of 150000/-
In the case you will get NPS deduction under 80CCD which is included in 80C max limit of 150000/-
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