National Pension Scheme (NPS) is the new hot deduction everyone is talking about.
We've spent a lot of time dissecting #NPS. Here's everything you need to know.
A Thread π§΅
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#NationalPensionScheme #Investing #PersonalFinance
We've spent a lot of time dissecting #NPS. Here's everything you need to know.
A Thread π§΅
Like and RT π
#NationalPensionScheme #Investing #PersonalFinance
1/ First up, here's a detailed article on NPS and why it might be good idea to start investing in an NPS:
thegalacticadvisors.com/post/national-β¦
thegalacticadvisors.com/post/national-β¦
2/ Letβs focus on the deduction aspect here βοΈ
Deduction under 80CCD is available upto:
β’ Employed person:
Can contribute upto 10% of salary to NPS. This 10% is in addition to the INR 1,50,000 limit under Section 80C.
Deduction under 80CCD is available upto:
β’ Employed person:
Can contribute upto 10% of salary to NPS. This 10% is in addition to the INR 1,50,000 limit under Section 80C.
β’ Any individual:
Any individual can contribute INR 50,000 and claim deduction under 80CCD. This is in addition to the INR 1,50,000 limit under Section 80C
Any individual can contribute INR 50,000 and claim deduction under 80CCD. This is in addition to the INR 1,50,000 limit under Section 80C
3/ Example
Mr. A has total income of INR 9 lakh
He has made the following investments/ payments:
β’ Contribution to PPF β INR 1,30,000
β’ Payment of tuition fee for child to Indian school β INR 1,00,000
β’ Contribution to NPS β INR 1,00,000
What is Aβs net taxable income?
Mr. A has total income of INR 9 lakh
He has made the following investments/ payments:
β’ Contribution to PPF β INR 1,30,000
β’ Payment of tuition fee for child to Indian school β INR 1,00,000
β’ Contribution to NPS β INR 1,00,000
What is Aβs net taxable income?
For more such threads on tax, personal finance and investing follow me @manansmehta5 π
#tax #investment #nifty
#tax #investment #nifty
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