23 October 2024
I have read that maximum 14% of salary (Basic+DA) is allowed as deduction u/s 80CCD(2). But is there a maximum amount of limit of the said deduction ? If my salary is 15.00 lac (Basic +DA) and 14% of which comes to Rs. 2,10,000/-. Whether employer can deduct 2,10,000/- as NPS on behalf of me ? And whether I can get deduction of 2,10,000/- from my salary income ?
23 October 2024
Yes. but the benefit of this amendment has been made applicable only to the taxpayers who are opting for the new tax regimes under Section 115BAC.
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