Web4 rows · Feb 8, 2024 · Section 80 CCD (1) provides a maximum deduction of Rs.1.50 lakh per annum paid to the NPS. ... WebDec 4, 2024 · The amount invested in this scheme qualifies for tax deduction under section 80C. Interest rate: The rate of interest currently being offered on NSC is 7.8 per cent, according to India Post website.

PF, PPF, FD, NPS, NSC: Tax Benefits, Interest Rates, Savings

WebSection 80CCD (1b): This section allows an additional deduction of Rs 50,000 for the investment made in the National Pension System (NPS) in a financial year. This deduction … WebApr 13, 2024 · Deduction of TDS under section 192 read with sub-section (1A) of section 115BAC of the Income-tax Act, 1961. Circular No. 04 of 2024 issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, clarifies the procedure for deducting tax at source (TDS) under section 192 read with sub-section (1A) of section … elizabeth dixon sylva nc mylife

NPS: National Pension Schemes Eligibility, Types, Calculator

WebApr 8, 2024 · Tax Benefits: Subscribers can avail of tax benefits under the NPS, with contributions of up to Rs. 1.5 lakhs per year eligible for tax deductions under Section 80C of the Income Tax Act, and an additional deduction of up to Rs. 50,000 available under Section 80CCD(1B) for the accounting year 2024-24. WebDeduction Under Chapter VI-A 1 Deduction U/s. 80C Yes N.A 2 NPS Self Contribution U/s. 80CCD(1B) Yes N.A 3 NPS Self Contribution U/s. 80CCD(2) Yes Yes 4 Medical Insurance Premium – U/s. 80D Yes N.A 5 Interest on Education Loan – U/s. 80E Yes N.A 6 Interest on Electric Vehicle Loan – U/s. 80EEB Yes N.A forced clue