what is the difference between GPF and NPS, comes under which section under income-tax act
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Quick Summary
This discussion clarifies the distinction between the General Provident Fund (GPF) and the National Pension System (NPS). It highlights that GPF contributions are typically eligible for tax deductions under Section 80C of the Income Tax Act. In contrast, NPS contributions fall under Section 80CCD for tax benefits. Understanding these differences is crucial for optimising your tax planning.