Site icon Jagoinvestor

Tax exemptions for investments under NPS Tier1 Account – Self Contribution

Hi,

    I wish to know the tax exemptions for investments/premium paid under NPS Tier1 Account by me and under which section of IT Act can I claim the exemption.

I have read conflicting reports of sec 80/C and sec 80CCD [over and above 1 lakh limit but the investment must be done by employer].

Every year I pay the premiums/investment towards my NPS Tier1 account which is inturn used for pension funds.

Help me get a clarity as my employers are unaware of NPS.

Regards,

Kunal

Exit mobile version