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Thread: Tax treatment on nps

  1. #1
    Member BANSAL is on a distinguished road
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    Default Tax treatment on nps

    As per circular of CBDT an amount of contribution by govt or employer is a part of salary of employee.

    As regard deducation under sec 80CCD only employee contribution upto 10% of salary is counted.

    Kindly confirm whether I am right or not.

  2. #2
    Senior Member tvenkatam is on a distinguished road
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    Quote Originally Posted by BANSAL View Post
    As per circular of CBDT an amount of contribution by govt or employer is a part of salary of employee.

    As regard deducation under sec 80CCD only employee contribution upto 10% of salary is counted.

    Kindly confirm whether I am right or not.
    Dear Mr. Bansal,

    Deduction under Chapter VI-A of the IT Act is allowed on the contribution made by an employee under NPS, not exceeding 10% of his salary in the previous year.

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