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Rebate u/s 80ccd2 in new tax regime
Please tell me what are the terms & conditions of claiming rebate u/s 80ccd2 in new tax regime for state government employees .
Replies (3)
Section 80CCD(2)
Salaried individuals can enjoy the benefit of their employer contributing to their pension schemes, such as the NPS. Section 80CCD(2) of the Income Tax Act gives employed individuals the benefit of claiming income tax deductions for contributions made by their employer. It is subject to the following conditions:
- Private-sector employees can claim a deduction up to 10% of their salary (basic salary + dearness allowance) under Section 80CCD(2)
- Government employees can claim up to 14%
Even when it goes directly to my NPS account and not part of salary in hand
Yes Though it is part of CTC but exempt in your hand.
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