07/12/2017
http://himsky.com/blogs/business/nps-tax-benefit-under-sec-80ccd-1b-rs-50000
NPS is now the only investment vehicle which allows you this additional tax deduction under section 80 CCD. (1B).
Budget 2015-16 introduced an additional income tax deduction of Rs. 50,000 for contribution to the New Pension Scheme (NPS) under Section 80CCD. Under this scheme, subscribers invest in a fund chosen by them and at the time of retirement they get a lump sum amount depending on the performance of that fund. The returns from NPS are not guaranteed; they are market-linked. NPS was introduced in 2004 for the new government employees but from 2009, it was extended to all on a voluntary basis.
NPS contribution & using 80CCD (1b) is for you if you are already done with 80C Limit of 1.5lks and still want to save tax on 50,000. So using 80CCD (1b) you can get extra benefit on 50,000 INR and total savings you can do with 80C+80CCD (1b) is 2,00,000 INR.
Read more at: http://himsky.com/blogs/business/nps-tax-benefit-under-sec-80ccd-1b-rs-50000
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NPS is now the only investment vehicle which allows you this additional tax deductio
