You can claim tax exemption upto Rs. 50,000 under section 80CCD (1B). This benefit is over an above limit of Rs. 1,50,000 under section 80C. You may invest upto 10% of your basic salary + dearness allowance and claim tax exemption on the invested amount under section 80CCD (1)....
Tax Benefits Tax Benefits With NPS, You can avail additional deduction of upto Rs. 50,000 under 80CCD(1B) over and above deduction of upto Rs. 1.50 lakh under 80C. Triple E Income Benefits Triple E Income Benefits Tax exemption on the Investment, Returns & amp; ma...
As per the current tax rules (2019-20), there is an additional Rs 50,000 tax deduction available under Section 80CCD (1B) for NPS contributions made in NPS (Tier 1). This benefit is only available to NPS subscribers and most importantly, is available in addition to the Rs 1.5 lac ded...
NPS account holders are at the advantage to tax benefit up to Rs. 1.50 Lac under section 80 CCD(1) and enjoys additional tax exemption up to Rs 50,000 under section 80CCD(1B). 1. Tax benefit for Individual NPS subscriber- An individual who is an NPS subscriber can avail the tax bene...
under Section 80CCD(1B):As announced by Govt of India in Budget 2015-16, a subscriber will be allowed tax deduction in addition to the deduction allowed under Sec. 80CCD(1) for additional contribution in his NPS account subject to a maximum of Rs. 50,000 under sec. 80CCD 1(B). ...
Switching your EPF contribution to NPS scheme is basically trading in an investment with assured returns, for investments with varying exposure and returns (but you also get an additional tax exemption with NPS).While the return on EPF savings this year is expected to be around 8.5%, the NPS...