Even though NPS is a product designed exclusively for retirement planning, what attracts most people to NPS is Rs 50,000 extra tax benefit it offers via deduction. As per the current tax rules (2019-20), there is an additional Rs 50,000 tax deduction available under Section 80CCD (1B) ...
NPS does not have afixedorguaranteed returnbut thereturns are market-linked. Money contributed to the NPS account can be invested in up to 4 asset classes – equities, corporate bonds, government bonds and alternative assets through various pension funds. NPS accounts are of two types:Tier-I a...
The employee has a choice as to which section ,80CCD(1) or 80CCD(1B), he wants to show his contribution. Ideally he should show Rs 50,000 investment in NPS u/s 80CCD(1B). The tax deduction on rest Rs 12,000 can be claimed u/s 80CCD(1). The section 80CCD(1) along with ...
Mutual fund pension schemes besides providing tax benefit under section 80C of IT Act, also have the potentiality of providing superior market linked returns. However, an additional tax incentive for investing in NPS (upto Rs.50000/-) under section 80CCD(1) in Budget -2015 has evinced much ...
Calcium carbide is an inorganic compound, white crystal, industrial product is gray black block, the cross section is purple or gray. In contact with water, a fierce reaction occurs immediately, forming acetylene and releasing heat. Calcium carbide is an i...
Section Deduction allowed Maximum Limit Can be claimed by 80CCD(1) Employee contribution up to 10% of basic salary and DA Upto 1.5 Lakhs including 80C. Employees. For self-employed 10% of their annual income up to a maximum of Rs 1.5 Lakhs. 80CCD(2) Employer’s contribution up to 10%...