Does NPS (National Pension Scheme) also comes under 80 C ?

POSTED BY pkokkula ON November 10, 2013 8:42 am COMMENTS (2)

Hi Team,

Can anyone provide me more information on NPS and the advantages on it. I heard that NPS will not come under 80C it is under separate section of tax saving.

Can I save 1lakh under 80C and get tax saving and another 10% of the Basic salary in NPS and get tax saving on the NPS amount? Is that correct?

 

2 replies on this article “Does NPS (National Pension Scheme) also comes under 80 C ?”

  1. ashalanshu says:

    Dear Pkokkula, your own contribution in NPS is eligible under section 80c’s over all limit of 1L Rs. and your employer’s conteribution capped @ 10% of your salary under section 80CCD.

    thanks

    Ashal

  2. battula says:

    Yes, The NPS contribution made by Govt or any company can be considered as tax saving other than 1 lac permitted under 80C.

    The Govt amendment to says:
    It is proposed to amend the aforesaid section 80CCE so as to provide that contribution made by the Central Government or any other employer to a pension scheme under sub-section (2) of section 80CCD shall not be included in the limit of deduction of one lakh rupees provided under section 80CCE.

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