Save Additional Tax

Invest 50,000/- this year and save additional tax over and above the 1.5 Lakh limit*.

Also, get an NMC (Non Maintenance Charges) waived savings account with an NPS account by investing minimum 2000# per month.

Calculate Your Tax Savings

Drag the circle on the slider alongside to know how much tax you would save by the time you retire at 60.

If you start saving tax at the age of 30, you will save:

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Section 80CCD Tax FAQs

What are the tax benefits available to subscribers for contribution under NPS?
Individuals contributing to NPS would enjoy tax benefits on their contributions as under:
  1. Tax deduction up to 10% of Salary (Basic + DA) under Section 80 CCD(1) within the overall ceiling of 1.5 Lakh under Sec 80 CCE
  2. NPS also reduces your tax liability by an additional deduction of 50,000/- under section 80CCD (1B) p.a. (applicable from FY 2015-16 and onwards)
What will be my total tax benefits under NPS this year as an individual contributor?
The additional tax benefit of 50000 is over and above the benefit of 1.5 Lakhs which can be claimed as a deduction under Section 80CCE. Therefore, the total tax benefits that can be claimed for NPS under Section 80CCD(1) + Section 80CCD(1B) equals to 2 Lakhs for this financial year.
Is the tax deduction under NPS for contributions made available only to Salaried Individuals?
The Deduction under Section 80CCD(1) is not only available to salaried individuals but non-salaried individuals can also avail deduction for the same. The individual claiming deduction under this section could be an Indian citizen or a Non-Resident Indian(NRI). If you are an NRI, please get in touch with Kotak Mahindra Bank for further details