Tax treatment on NPS withdrawal

Yes it is taxable

As only 150000 is covered under 80C, it means tax has been paid on this amount. doesn't it mean double taxation.

So it means 60% received by subscribers at retirement is completely exempted

If you want to withdraw from NPS before the age of 60 or before retirement (other than the purpose specified for partial withdrawal), the amount withdrawn will not be taxable but the amount that can be withdrawn is limited to only 20% of the accumulated wealth in NPS and balance 80% of the accumulated pension wealth has to be utilized for purchase of annuity providing for monthly pension of the subscriber.