NPS deduction when monthly deducted by employer

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22 Points Posted on 04 July 2021

As i have exhausted section 80C maximum limit of 1.5 Lac due to PF contribution, Tution fees, getting additional 50K through NPS in 80CCD(1B). Now, my new employer is having a monthly NPS deduction option from my salary, however HR confirmed that my employer does  not do matching contribution. Can i get any additional benefits apart from 1.5Lac and 50k? or in 80CCD (2). I heard 10% of basic can be claimed to NPS over and above 80C and 80CCD(1B), please clarify

 

 

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On 04 July 2021 at 23:14 Report
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Quick Summary
This discussion clarifies how individuals can claim additional tax deductions for NPS contributions made through their employer, even after exhausting the Section 80C limit. You can claim a further deduction under Section 80CCD(2) for employer contributions, up to 10% of your basic salary, in addition to the 1.5 lakh limit under 80C and the 50,000 limit under 80CCD(1B).

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Practising CA
8954 Points Posted on 05 July 2021
Yes. You can get additional deduction under 80CCD(2) upto 10% of basic salary in addition to 1.5L and 50K in 80C and 80CCD(1B) respectively
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On 05 July 2021 at 04:19
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22 Points Posted on 05 July 2021

Thanks Raj for timely response.

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On 05 July 2021 at 17:43
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CMA
13117 Points Posted on 05 July 2021

You may avail deduction u/s 80CCD(2) up to 10% of salary on contributions from the employer. But the employer's contribution would be added to your income and then deducted.

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On 05 July 2021 at 18:34

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