Voluntary contributions in NPS

 

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You can make a voluntary contribution to National Pension Scheme (NPS) and claim an extra tax deduction of up to Rs 50,000 under Section 80CCD(1B)

 

You can claim a deduction on your voluntary contribution. A taxpayer can make a voluntary contribution to National Pension Scheme (NPS) and claim an extra tax deduction of up toR50,000 under Section 80CCD(1B) of the Income Tax Act. Please remember that you can claim a total deduction of only R2 lakh under both Section 80C and 80CCD. However, the employer's contribution is not part of it and it is an extra deduction over and above this limit.

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