Free ebook for Income Tax Planning for FY 2019-20<\/a><\/p>\n<\/blockquote>\nLet\u2019s take the easy part first. Employee\u2019s contribution in NPS would be eligible for tax deduction u\/s 80CCD(1).<\/p>\n
The employee has a choice as to which section [80CCD(1) or 80CCD(1B)] he wants to show his contribution. \u00a0Ideally he should show Rs 50,000 investment in NPS u\/s 80CCD(1B). The tax deduction on rest Rs 12,000 can be claimed u\/s 80CCD(1). The section 80CCD(1) along with Section 80C has investment limit eligible for tax deduction as Rs 1.5 lakhs. So he should make additional investment of Rs 1,38,000 in Section 80C to save maximum tax. In all he can save Rs 2 lakhs tax u\/s 80C and 80CCD(1B).<\/p>\n
I hope this would have cleared the confusion on how NPS helps you save tax.<\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"In last few weeks I have got several mails and comments asking about the tax benefit on NPS. This post explains the tax deduction availa\/ble for NPS under 3 sections: 80CCD(1), 80CCD(2) and 80CCD(1B). Tax Benefit on NPS Tier 1 and\/or 2? NPS has two Tiers \u2013 1 and 2. NPS Tier 1 is the […]<\/p>\n","protected":false},"author":1,"featured_media":6857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[3013,393,63,6],"tags":[1585,2979,2980,2931,2932,2933],"uagb_featured_image_src":{"full":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit.png",597,338,false],"thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit-150x150.png",150,150,true],"medium":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit-300x170.png",300,170,true],"medium_large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit.png",597,338,false],"large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit.png",597,338,false],"1536x1536":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit.png",597,338,false],"2048x2048":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit.png",597,338,false],"yarpp-thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2016\/02\/NPS-Tax-Benefit.png",120,68,false]},"uagb_author_info":{"display_name":"Amit","author_link":"https:\/\/www.apnaplan.com\/author\/admin\/"},"uagb_comment_info":462,"uagb_excerpt":"In last few weeks I have got several mails and comments asking about the tax benefit on NPS. This post explains the tax deduction availa\/ble for NPS under 3 sections: 80CCD(1), 80CCD(2) and 80CCD(1B). Tax Benefit on NPS Tier 1 and\/or 2? NPS has two Tiers \u2013 1 and 2. NPS Tier 1 is the…","_links":{"self":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/6854"}],"collection":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/comments?post=6854"}],"version-history":[{"count":0,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/6854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media\/6857"}],"wp:attachment":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media?parent=6854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/categories?post=6854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/tags?post=6854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}