How to show NPS in ITR | National Pension Scheme| Dr S K Goyal| U/s 80 CCD(1)(1B)/80CCD(2)
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By - Amlan Dutta
Sir I am Govt. employee. My total salary in FY- 2017-18 was 600000 basic salary+ 100000 Allowances (total salary 700000). My contribution in NPS was 10% of basic + DA i.e. 70000. The contribution of employer in my NPS was 10% of basic + DA i.e. 70000. After adding the contribution of employer my total income was 770000.
Please help me that the contribution of employer i.e. 70000 will add in my Basic salary or Allowances ?
Solution - By Amlan
As regards contribution made towards NPS by employer need not be mentioned specifically ...just use the approach of showing 12 month basic salary in salary ...the subtract from gross this salary and exempt allowances ...the figure will automatically take care of everything ----you only are required to worry for the deduction portion for employer contribution which you shall show in 80 CCD(2) ...employee contribution till 50000 shall be first shown in 80 CCD(1B) and balance 20,000 shall be shown in 80 CCD(1) ...note that total of 80 C and 80 CCD(1) cannot exceed 1.5 lakhs .
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