I am contributing 50000 to Nps and my employer is depositing 50000 to NPS (which is10% of basic) . Whether the employers contribution is tax free salary ? .. i have planned and paid tax considering 50000 plus 50000 i.e. 30 % tax will save.. is it correct ? Please guide me urgently.
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Is nps employers contribution 10% of basic is treated as tax free income.
Replies (2)
No.
Employer's salary is added to your gross salary first and then allowed for deduction u/s. 80CCD(2)
https://commonmoney.home.blog/2019/02/17/tax-efficient-salary-structuring/
please check point 2
please check point 2
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