If you invest an additional Rs 50,000 in NPS, you can claim Rs 2,00,000 as tax exemption in each financial year
I had gone through your article regarding NPS. The article was very informative. I can save ₹1.50 lakh under section 80C of the IT act. Now I am investing ₹1.50 lakhs in ELSS and PPF. If I invest another ₹50,000 under NPS will I be able to get total ₹2 lakh as tax exemption on my total income?
- Syam Spai
Yes, if you invest an additional ₹50,000 in NPS, you can claim ₹2,00,000 as tax exemption in each financial year. The ₹1,50,000 in PPF and ELSS will be reckoned under Section 80C of the act. Additionally, ₹50,000 will be exempted under Section 80CCD. This is as per the latest budget amendment for the NPS.