NPS Deduction on Date of Credit of Units or Date of Deposit?

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  1. svpsat

    svpsat New Member

    PRAN No. was generated on 30th March 2016 with an initial contribution in Tier - I account of Rs.6000.. A further contribution was made online into NPS vide authorised banker on 30th March 2016 for Rs.44000. The transaction was debited in the bank account and confirmation was received. Subsequently, NSDL has infomed that units have been credited against the additional contribution made on 5th April 2016.

    Whether full deduction of Rs.6000 + Rs.44000 ie. Rs.50000 would be available as the amounts have been debited before 31st March 2016 or
    Whether deduction would only be available for Rs.6000 since units have been allotted only for the said amount and the holding statement upto 31st March 2016 shows receipt of Rs.6000 only.
     
  2. Manoj Mehra

    Manoj Mehra Active Member

    Deduction of Rs. 50,000 would be allowed in this case
     
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