NPS when employer is NOT participating

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  1. Sachin300

    Sachin300 New Member

    I had few questions on NPS and wondering if some one can help me with it. I hope this is the right forum to post.
    • I have entered into 30% tax bracket
    • My employer is NOT participating in NPS. So it will be just my contribution alone
    • I already exhaust Sec 80C benefit of Rs.1.5 Lakhs (in VPF, PPF, LIC policy, kid school fees etc)
    My questions are:
    1. Rs.1.5 Lakhs under 80 CCD(1) and Rs.50,000 under 80 CCD(1B) ... Totalling Rs.2Lakhs, can this 2Lakhs be availed over and above the Rs.1.5 Lakhs under Sec 80C?
    2. If employer is NOT participating, will I be able to claim exemptions under 80CCD (1) and 80CCD (1B)?
    I may have more questions, based on the answer I receive. Thank you for the guidance.
     
  2. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    The aggregate amount of deductions u/s 80c,80ccc & 8ccd shall be restricted to RS.150000/-.
    So you are not eligible to claim more,as you already claimed the maximum limit u/s 80c.
    I too ready to clarify you,if you need any further clarifications..
     
  3. Sachin300

    Sachin300 New Member

    If Rs.1.5 Lakhs is the capped amount under Sec 80 C; then I am failing to understand how is that Rs.1.5 Lakhs under 80 CCD(1) and Rs.50,000 under 80 CCD(1B) is allowed for NPS. This itself totals Rs.2Lakhs, above the Rs.1.5Lakhs limit.

    Can you please clarify?
     
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