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?