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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
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