If you are a subscriber under the NPS scheme, you can claim income tax benefits on investments in the scheme up to ₹1.5 lakh under Section 80C of the Income Tax Act, 1961.
You can also claim an additional income tax benefit on investments up to ₹50,000 over and above the limit of ₹1.5 lakh under Section 80CCD (1b) of the Income Tax Act, 1961.
If your employer contributes to your NPS account, you can claim tax benefits on the contributions from your employer. The maximum amount eligible for deduction under this section will be the lowest of the following:
What is your reaction?