Thursday, 6 September 2012

Income tax calculation of New Pension Scheme subscriber

NDNGSA has demanded from OFB vide its letter available at that while calculating the income tax for New Pension Scheme Subscribers, the contribution made by Govt. in Tier I account shall not be included in saving limit of Rs 1,00,000 under sec 80C.

The demand is accepted by OFB and the action of OFB is as follows: