When Ajoy Ghosh opened an NPS account last month, his basic objective was to save tax.
Ghosh has opted for the NPS benefit offered by his company, under which Rs 5,200 is put in the NPS on his behalf every month.
He has invested an additional Rs 50,000 under Section 80CCD(1b). The total investment of Rs 1.12 lakh in the scheme will reduce his annual tax by Rs 35,000. “I have exhausted all other tax-saving avenues. The only way I can save tax is by investing in NPS,” says the ..
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