NPS contribution
This query is : Resolved
30 November 2022
Hello Experts
I want to know the limit of contribution in NPS Teir 1 to make my corpus more.. i am now 49 yrs. Besides tax rebate i should get u/s 80C and 80 CCD 1(B)..
Pl advise ..
Regards
I want to know the limit of contribution in NPS Teir 1 to make my corpus more.. i am now 49 yrs. Besides tax rebate i should get u/s 80C and 80 CCD 1(B)..
Pl advise ..
Regards
30 November 2022
The maximum benefit you can claim is 2 lakhs.
1.50 lakhs in aggregate under sec. 80C, which includes investment in any other options available under the sub-section;
while 50K u/s. 80 CCD(1B) of the act, specifically for NPS Tier I investment in a year..
1.50 lakhs in aggregate under sec. 80C, which includes investment in any other options available under the sub-section;
while 50K u/s. 80 CCD(1B) of the act, specifically for NPS Tier I investment in a year..
30 November 2022
Sir. It means I can invest more but not not More than 2 lac..
Pl confirm
Pl confirm
30 November 2022
Yes, you cannot get deduction of more than 2 lakhs from the taxable income.
01 December 2022
NPS Tier 1 Contribution
The minimum NPS Tier 1 contribution is Rs 1,000 per annum. There is no maximum limit on your NPS Tier 1 contribution. The minimum initial contribution to the NPS Tier 1 Account is Rs 500.
However, as sir, told tax benefit is restricted to 50000/- only. Further, There is no tax benefit on investment towards Tier II NPS Account.
The minimum NPS Tier 1 contribution is Rs 1,000 per annum. There is no maximum limit on your NPS Tier 1 contribution. The minimum initial contribution to the NPS Tier 1 Account is Rs 500.
However, as sir, told tax benefit is restricted to 50000/- only. Further, There is no tax benefit on investment towards Tier II NPS Account.
Message likes :
1 times
01 December 2022
Madam. PL advise shall i open teir 2 account also to mak my corpus more
.
Regards
.
Regards
26 December 2022
You can open Tier II account where we can withdraw the money easily when required in case of urgency
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
