Can I deposit more than 50k in nps in a given financial year?
Yes. You an deposit as much as u can but why would u. You will get exemption only on 50k…
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There is a separate section called as 80CCD(2)), you can contribute max 10% of your basic and you will get tax exemption on this as well. However this can’t be deposited by you, this policy must be incorporated by your employer.
in short, for NPS, there are two exemptions
- 50k exemption under 80CCD . This is on top of 1.5 lakh exemption of 80C.
- 10% f basic under section 80CCD(2)
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To know more in detail you can check the following link
National Pension System
ArthikDisha
Absolutely you can deposit more than Rs.50000 in NPS in a year. But if you are a salaried person you can do this additionally over and above your contribution of Rs.1.5 Lakh u/s 80 C. You can make investments more than 50000 but it will get tax deduction under Section 80CCD(1b) of the income tax act.
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hi I have been trying to deposit mone y through icici no’s and gets refunded back do anyone’s why this is happening. this is the third time I see my investment back