Ask Value Research

Can I invest extra money in NPS?

Contributions to NPS qualify for additional tax deduction of up to Rs 50,000 under Section 80CCD(1B)

I am working in a private construction company. I invest more than ₹1.5 lakh under section 80C in PPF, insurance, ULIP. Can I claim extra deduction under Section 80CCD If I will invest ₹25,000 in NPS? How I can invest? How to show it to my employer for TDS?
- Sreeram

Yes, you can contribute extra ₹25,000 to NPS and claim additional tax deduction on it. Contributions to NPS qualify for additional tax deduction of up to ₹50,000 under Section 80CCD(1B).

You can go to a service provider's office and get a form, fill it up and submit it with relevant documents. Click on this link to locate a PoP-SP (Point of Presence - Service Provider) near you.

For more on NPS, read: NPS FAQs: All You Need To Know.

This article was originally published on December 15, 2015.

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