The date of extension of the contribution of the NPS amount to the Tier-I account is confusion due to COVID-19. Central Recordkeeping Agency (CRA) said that the deadline for NPS contribution has been extended till June 30.
In this regard, the Ministry of Law and Justice (Legislative Department) has said that (CG-DL-E-31032020-218979) dated 31st March 2020, timelines have been extended for making tax-saving investments for Financial Year 2019-20 to June 30, 2020. If a subscriber needs to take the tax benefit for FY 2019-20, then may investing in NPS till June 30, 2020. In a pop-up on its website, PFRDA said that the date for making the various investment for tax benefits is extended from March 31, 2020, to June 30, 2020.
On the same pop-up, NSDL also reminds that by investing in NPS, investors may take the tax benefits up to Rs. 50,000 u/s 80CCD(1B) of the Income Tax Act over and above Rs.1.5 lakh allowed u/s 80 C.