You can make a contribution of up to Rs 50,000 in the NPS and claim additional tax exemption under Section 80CCD(1B)
I am currently investing in ELSS for tax saving purpose to the tune of ₹1.5 lakh. Would I be eligible for additional tax benefit of ₹50,000 if I make a contribution towards NPS?
- Pramod T Palathinkal
Yes, you can make a contribution of up to ₹50,000 and claim additional tax exemption under Section 80CCD(1B) of the Income Tax Act.
This article was originally published on September 16, 2015.
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