Questions on NPS Contribution (Tier 1)

118°
Deal Subedar
rak007

I am aware that in NPS Tier 1, contribution through employer upto 50K can be claimed under section 80 CCD(1).

But additionally, If I do voluntary contribution, I believe that too can claimed under deduction additionally, right? If yes, then upto what amount?

Expired
Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
17 Comments  |  
9 Dimers
  • Sort By
Deal Captain Deal Captain
Link Copied

Let it be self contribution through employer or voluntary by yourself, max limit is 50k under 80CCD(1B) and if you exhaust 50k limit, then additional deduction can be taken under 80CCD(1) within regular 1.5L limit.
Deal Subedar Deal Subedar
Link Copied
With 1.5 means the one that is part of 80c?
View 1 more reply
Benevolent Benevolent
Link Copied

NPS contribution via employer comes under 80CCD(2)

10% of basic is allowed, 

Own contribution has upper limit of 50K under 80CCD(1B)

Deal Subedar Deal Subedar
Link Copied
only accurate comment
View 1 more reply
Deal Lieutenant Deal Lieutenant
Link Copied

Vote for ops in 2024 😄

Deal Newbie Deal Newbie
Link Copied

I read somewhere that we can claim tax deduction under 80ccd1 only if we invest a minimum of Rs 6000 in a year. Is that true?

Generous Generous
Link Copied

You can avail 1.5L under 80C, 0.5L under 80CCD(1B) and 10% of basic under 80CCD(2). It would 2L+




Deal Cadet Deal Cadet
Link Copied

Any source for this information?

View 7 more replies
replyuser
Click here to reply
Reply