query

Share
Share This Thread
  1. Miltoni

    Miltoni New Member

    Dear Sir,

    I am paying income tax for the first time, so i have many queries

    1) my nps contribution is 4061.20 pm.
    2) i have an lic policy paying a premium of rs. 35015 per year.


    Under wat circumstance can i claim the additional 50000.00 deduction from nps? Just because i am contributing 4061.20 does it mean i can claim exemption for (4061.20* 12)

    I want to open a tax saving fixed deposit scheme for 5 years. How much should i keep in it keeping in mind the above 1 & 2?
     
  2. Karan Batra

    Karan Batra Well-Known Member

    1. Yes, you can claim deduction of 4061*12 simply for depositing money in NPS Account
    2. You can also claim deduction for paying LIC Premium
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Selling a House - Furniture and TDS Query Income Tax Feb 9, 2018
44AD presumptive tax query Income Tax Feb 1, 2018
TDS Query Income Tax Jan 10, 2018
Query on gift Income Tax Jan 7, 2018
Query regarding Income Tax Refund for A/Y 2014-15 Income Tax Dec 25, 2017