Hi…you are a great help for financial palnners
I have a doubt regarding the tax.. i am working in public sector and My employer deduct NPS but the problem is that employer showing it as income(in gross Salary) and same is shown as exempt under 80ccd also..Is the above procedure is correct? ( showing it in income and Exemption also )
In the 26 AS he is not showing the component of employer NPS as income under the head of Salaries so that in 16b gross income is more and in the 26 AS the head salary is low….So it’s a mismatch..between 26AS and 16b form..while filing the form we use 16b which gives the elaborate details of income under salaries…So ca the above case is considered as mismatch ?
Salary : 358000
192 : 328000
I am not sure why your employer showing in such way. However, for taxation purpose, you may refer my post “NPS Tax Benefits – Sec. 80CCD(1), 80CCD(2) and 80CCD(1B)“.