Paragraph match score 78.9%
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Tax Benefits Available Under NPS (National Pension System)
Eligible for tax deduction on the amount contributed as the employer's contribution towards the NPS account of employees, up to 10% of the salary (Basic + DA) of the employer's contribution, named under 'Business Expense' from the Profit & Loss Account under section 36(1)(iv)(a).
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The Enhanced Deduction Limit for All Employees
This means that an employer can contribute a higher percentage towards the employee's NPS account, and the employee can claim the entire amount as a deduction, regardless of the tax regime chosen. This is a huge plus point for salaried individuals under the New Tax Regime.