NPS benefits for a retiree

Tax queries 125 views 1 replies
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Retired
16 Points Joined November 2017

I am a retired  person from a public sector Bank. I am receiving pension from my ex-employer. My queries are as follows.

1. Can I join NPS and avail tax benefits as per 80ccd1?

2. If so, is it necessary to invest in 80ccd1 - tier 1? Can I avail the benefits which are available under 80ccd1b?

May be the reply to this query benefits other pensioners..

Thanks

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On 22 January 2022 at 14:21 Report
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12244 Points Joined May 2017
You can claim 10% of your pension amount or 1.5 lakhs, whichever is lower, under 80ccd(1).
you can claim a maximum of 50000 under 80ccd(1b) but deduction cannot be claimed twice for an amount under 80ccd(1) and (1b)
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On 23 January 2022 at 01:05


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