The contribution under Tier-II of the National Pension Scheme is covered under Section 80C for deduction up to Rs. 1.50 lakh for income tax benefits.

NPS is limited to EEE, to the extent of 60%. 40% has to be compulsorily used to purchase an annuity, which is taxable at the applicable tax slab. 

In 2018, the Government of India made NPS an entirely tax-free instrument in India where the entire corpus escapes tax at maturity; the 40% annuity also became tax-free. 

None of these