Menu
Regarding NPS
Sir my brother is an army person and every year his providend fund deposit amount is ₹ 3,15,000/- I want to know can he invest ₹ 50000/- in NPS account for taking deduction of NPS under section (80CCD1B).
Replies (3)
Quick Summary
NPS or National Pension System is a pension scheme available for both government employees as well as private citizens
investment in Tier I account of NPS upto Rs. 50,000/- can be claimed as deduction under section 80CCD(1B). over and above Rs. 150000/- available in 80C.
So the answer to your question is YES...!
Thanks sir
U/s 115 BAC. ( new tax regim)....NO
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
