Mr. X is an employee of central government. The employer pays 7 8,00,000 as salary and also contributes 7 1,10,000 to National Pension scheme (NPS) for the benefit of employee. The employee however contributes 7 72,000. The amount deductible under section 80CCD(2) of the Act, for the Previous Year 2019-20 will be:
A. 1,12,000
B. 80,000
C. 1,10,000
D. 1,52,000
Answer:C
Mr. X is an employee of central government. The employer pays 7 8,00,000 as salary and also contributes 7 1,10,000 to National Pension scheme (NPS) for the benefit of employee. The employee however contributes 7 72,000. The amount deductible under section 80CCD(2) of the Act, for the Previous Year 2019-20 will be:
A. 1,12,000 B. 80,000 C. 1,10,000 D. 1,52,000