Ch.1 · Comparing Financial Products · medium
What is the additional tax deduction available under Section 80CCD(1B) for NPS contributions, over and above the Section 80C limit?
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EXPLANATION
Section 80CCD(1B) allows an additional deduction of up to ₹50,000 for NPS contributions, over and above the ₹1.5 lakh Section 80C limit. This makes the total potential deduction for NPS ₹2 lakh per year.
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