Key Points
Further, tax deductions for investments in NPS are available under both new and old income tax regimes..
What are the tax deductions that you claim for investing in NPS?You can claim tax deductions against NPS under three sections of the Income-tax Act, 1961 in India: Sections 80CCD (1), 80CCD (1B), and 80CCD (2)..
Both salaried and self-employed taxpayers can avail of the deduction under section 80CCD(1) for investments in NPS..
How much a salaried and self-employed can claim tax deductions for investing in NPS. 80CCD(1) Salaried Individuals and Self-employed 10% of salary (Employees) Deduction up to Rs 1.5 lakhs per financial year Rs 2 lakh 20% of gross income (Self-employed)..
You can still claim the income tax deductions for contributions to NPS under Section 80CCD (2) in the new income tax regime...
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