Deduction of nps

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2015 frnd my query is... 1. Wether both employee nd employor's contribution becomes part of salary for computing salary. 2. Whether contribution of both will be coverd under section 80ccd. My second query is becouse undr section 80cce it is written that deduction u/s 80c, 80ccc, 80ccd(1) shall nt be more than 1 lakh (nw 1.5) so because employee cntributn is covrd u/s 80ccd(1) nd of employer u/s 80ccd(2) it means employrs cntributn is fully deductibl without any time.. So plz give me ur advise..

CA ANILKUMAR B.COM FCA DISA

CA ANILKUMAR B.COM FCA DISA (Querist)
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22 January 2015 The contribution by the employee to the NPS will be subject to the limit of Rs 1,50,000. Section CCD (2) provides that deduction in respect of contributions by the Central Government or any other employer to NPS available under Section 80CCD (2) will not be subject to the limit specified in Section 80CCE but it is subject to 10% of Basic + DA maximum. The tax benefits are available only in the case of Tier I account not in Tier II account.

Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2015 thnku anil sir.. Bt i dont undrstand wethr deductn of employr contributn (sbject to limit u said) will b available nd if available, undr which section

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