We are getting NPS management share @14%. Can we get the exemption all 14% under 80ccd(2) or we are entitled for 10% only
2 years ago
I am an employee of Kendriya Vidyalaya Sangathan, an autonomous body under ministry of education. We are getting NPS management share @14%. Can we get the exemption all 14% under 80ccd(2) or we are entitled for 10% only.
A.Dear Client
As per the Section 80ccd(2) you are allowed to seek tax relief only up to 10% of your salary. Section 80CCD (2) allows salaried individuals to claim deductions up to 10% of their salary which includes the basic pay and dearness allowance or is equal to the contributions made by the employer towards the NPS.
As per the Section 80ccd(2) you are allowed to seek tax relief only up to 10% of your salary. Section 80CCD (2) allows salaried individuals to claim deductions up to 10% of their salary which includes the basic pay and dearness allowance or is equal to the contributions made by the employer towards the NPS.
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