TMI BlogDeduction in respect of contribution to pension scheme of Central Government- Section 80CCDX X X X Extracts X X X X X X X X Extracts X X X X ..... Scheme (NPS) and Atal Pension Yojana (APY) is deductible in the year in which contribution is made. Limit up to 10% of the salary of the employee Limit up to 20% of GTI in the case of any other individual Maximum limit of deduction is ₹ 1,50,000 (see Section 80CCE ). S ection 80CCD(1B) [Additional deduction] An employee or individual, shall be allowed a deduction in computation of his total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Terms) As per Section 10(12A) any payment received by Assessee on closure of his account is exempt to the extent of 60% (40% is taxable) of total amount payable to him at the time of closure. In case of employee or non-employee, any amount received from NPS by the nominee legal heir on death of an assessee is Fully Exempt. The subscribers from RPF and Super-annuation Funds would be able to transf ..... X X X X Extracts X X X X X X X X Extracts X X X X
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