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CPS Employees Additional Benefit #50,000 in Income Tax on 80CCD(IB) Clarification Copy

Qutab Institutional Area, Katwaria Sarai, New Delhi110016 Phone: 011-26517503 011-26517503 011 26517507 Fax: 011-26517507 www.pfrda organ Website www.ptrda organ

24 February, 2016 PFRDA/23/CORP/20/5

Dear Sir Madam,


      50,000 Extra Tax benefit available under 80 CC National Pension system (NPs)


      ⏩   would be aware that under the National Pension system (NPS), the Subscribers can avail of tax bene under Sec 80cc DI1).up to 10% of their salary (basic+DA) which is capped at Rs 1.50 lakhs under section 80CCE. From FY 2015-16. an additional tax deduction over and above the Rs 1,5 Lakhs, is available only to Income Tax Act Any citizen of India incuding inde ed deined

⏩ 2. This additional tax benefit on investment uptoRs. 50000/- provides an opportunity not only to those employees who are mandatority covered under NPS, but as2.ioal age to avail of this tax benefit by opening an NPs account on voluntary basis and by investing the required amount.

⏩ 3. PFRDA has provided an easy and convenient way to subscribe to NPS by recently introducing eNPs, which any individual can make use of to join NPS. A new subscriber can adopt the following eNPS methods for joining NPS: td... o2


(a) Using Aadhaar card issued by UIDAI which is authenticated through OTP received from UIDAl on the registered mobile of the applicant. In this case, the subscriber can instantly get himselfiherself registered. Helshe has to simply visit the eNPS module in NPS Trust website at (b) Using PAN and net banking of the selected bank chosen by the subscriber. In this case KYC verification is done by the Bank. The NPS account gets activated only after KYC verification by Bank. Helshe has to go to eNPs module in NPS Trust website at

⏩4. A new subscriber can also open an account physically through any of the Points-of- Presence. Service Provider (POP-SP). The list is available on

⏩5. Therefore, your employees who are not NPS members can open their NPS account, and make contributions using any of the three options mentioned above. Existing NPS subscribers can also make additional contributions to avail of the tax benefit by using any of the options as stated above.

⏩ 6. Contribution upto Rs 50,000 in NPS for the additional tax benefit in the current year. has to be made by 31-03-2016, and it is important that this message be conveyed to all your staff members and employees right upto the level of DDOs DTOs at the earliest. This will definitely help in their tax planning.

⏩ 7. We request you to disseminate the above information to all concerned With regards, Yours sincerely, (Mamta Rohit) Chief General Manager 29 or Communicated b au Geasu their ntation. an, oter f as as

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