NPS allows you additional tax deduction on saving of Rs 50,000/- under section 80 CCD(18) of IT Act, over and above the limit of Rs 1.50 Lakh available under section 80 CCE of Income Tax Act 1961. So effectively, NPS Subscribers can now claim up to Rs 2.00 lakh as tax deduction as against Rs 1.50 Lakh earlier.
All Nodal Offices are informed to disseminate the information among their underlying subscribers, regarding the exclusive tax benefits of additional Rs 50,000 under NPS.
Ads prepared by CRA regarding the additional tax deduction is given below.
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