Real Returns of NPS 50000 Investment under 80CCD(1B) for Extra Tax Benefit | NPS Scheme | EPM

NPS 50000 Extra Tax Benefit | Real Returns of NPS Extra ₹50000 investment under 80CCD(1B) | National Pension System
80CCD(1B) NPS Tax Benefit of 50000 - whether it should be availed or not, for NPS Tax exemption. Income tax act Section 80CCD(1B) deals with the deductions offered to individuals who want to contribute towards retirement via NPS. Section 80CCD was changed wherein an individual who was eligible to claim income tax deduction of only up to Rs. 1.5 lakh against contributions made to NPS can now avail further tax exemption ₹50000 against the contributions made by individual taxpayers towards the NPS.
National Pension System, popularly known as NPS is a Defined contribution scheme which was introduced by Govt. of India on 1st January 2004. This replaced the Defined Benefit Pension System that was thus far available for all the Government employees. Later on, the government extended this scheme to all citizens of India include those who are in unorganized Sectors. Besides the India residents, this scheme is available for NRI's.

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