NPS RELATED BENEFITS TO EMPLOYEE

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  1. SRK

    SRK New Member

    Dear Sir,
    I'm an employee in a PSU. I wish to know that since both me and my employer contribute to my NPS account every month, now that i am filing my tax, can i avail tax benefit on the amount contributed by my employer in addition to amount contributed by me ?? However, my Form 16 doesnot state any amount under Sec 80CCD (2). Plz reply asap.
     
  2. ZED

    ZED Well-Known Member

    Yes, you can. Form 16 should have showed this amount as deduction.
    Kindly confirm whether the contribution amount was firstly added in the salary or not? [Maybe the showed net income, which would be wrong.]
     
  3. SRK

    SRK New Member

    Dear Zed,
    Contribution by employer is not reflected anywhere in Form 16 , maybe because the amount is not deducted from my salary. plz advise.
    thnks
     
  4. ZED

    ZED Well-Known Member

    Please verify the calculation of Form 16, you can use payslips available with you and compute the salary.
    Kindly do check and only after verification claim the deduction and not otherwise. You would not like any trouble for yourself at later stage.
     
  5. SRK

    SRK New Member

    Dear Zed,
    You mean to say that only if the amount contributed by employer is included in my taxable income, then i can claim benefit for it, else not. Right ??
     
  6. ZED

    ZED Well-Known Member

    Kinda yes because normally it is to be included in the income first. S.17 specifically provides for that. I am presuming that the employer has already provided deduction by not adding the income. At this moment, this particular assumption seems to be appropriate. Otherwise if you claim it u/s 80CCD(2) then indirectly you are claiming the deduction twice

    If you found out that employer did added this amount to the income then only you should claim it.
     
    SRK likes this.
  7. SRK

    SRK New Member

    Thanks a lot dear for your valuable advise.

    Regards
     
    ZED likes this.
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