80 CCC in 2015 budget, Income Tax

[sunu m]

Hi ,

We know that 80 CCD(1) limit in NPS has been extended to 50000 in 2015 budget over and above 1.5 lakhs INR 80 C limit we had earlier. I have following questions to be clarified.

1. I had a contribution to NPS through 80 CCD(2) which is over and above 1.5 lakhs limit, because it was employer contribution. Now, this 50000 limit is also for 80 CCD(2) ?

2. contribution to NPS is max 10% of basic. So does it mean both 80 CCD(1) and 80 CCD(2) will be max 10% of basic ?

3. earlier 80 CCC pension plans (icici prulife) used to go through 80 C limits only, i.e 1.5 lakh inr. Now in 2015 budget can this be accomodated in extra 50000 INR savings ?

4. Assuming I deposit 35000 to NPS through 80 CCD(2), how much I can contribute to NPS more to get maximum tax benefit ? my 80 CCC is also 15000 per annum.

5. What the new avenues of saving tax this year assuming i already have consumed 1.5 lakhs inr ?

regards