The ₹7.5 lakh NPS myth: Know the tax rule
Synopsis As the due date for filing ITRs for AY 2026-27 approaches, many salaried taxpayers are finding that the ITR utility does not allow deduction
Synopsis As the due date for filing ITRs for AY 2026-27 approaches, many salaried taxpayers are finding that the ITR utility does not allow deduction under Section 80CCD(2) unless the employer's NPS contribution is first included in salary. This article explains why the ITR utility is designed to work this way by examining the relevant provisions of the Income-Tax Act, 1961 and dispelling some common misconceptions.
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