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Tax exemption of NPS Tier-1 account
I have deposited 1.5 lakh into PPF, which is covering tax exemption under 80C. Also I have kept Rs. 50K into NPS Tier-1 account. Shall I get exemption of Rs. 2 Lakh? I am salaried and my employer slso deduct EPF on regular basis. What does it mean by additional contribution to NPS?
Replies (4)
" I have deposited 1.5 lakh into PPF, which is covering tax exemption under 80C. Also I have kept Rs. 50K into NPS Tier-1 account. Shall I get exemption of Rs. 2 Lakh?
YES....... 1.50 lakhs u/s. 80C & 0.50L u/s. 80CCD(1B).....
if deposit in Tyre II scheme then additional 50000rebate allowed or not
No. NPS Tier II investment is not eligible for any tax benefit.
thanks
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