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About 80 ccd(1b)

18 February 2017

Sir I am a govt. Employee .Iam NPS subscribers .my 10% (basic+D.A)share goes in NPS. I have complete my 150000 saving in ppf. My question is that can I avail my NPS saving under 80ccd(1b)to maximise that is 150000+50000 .my boss is saying that you can not avail this .please clarify this matter thank you

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(Guest)

SEC.80CCC AND SEC.80C AND SEC.80CCD DEDUCTION = 150000/-

AND INVEST IN NEW PENSION SCHEME 50000/- EXTRA NOT INCLUDED IN 150000/- THEN CLAIM DEDUCTION OF RS 50000/- EXTRA SO TOTAL DEDUCTION IS 200000/- IN ASSESSMENT YERAR 2016-17

parvesh khapra (3 Points)
Replied 18 February 2017

Sir please confirm can I avail 80ccd(1b)or not.my boss is denied

parvesh khapra (3 Points)
Replied 18 February 2017

Sir please confirm can I avail 80ccd(1b)or not.my boss is denied

Ashok Kumar (CA qualified) (389 Points)
Replied 18 February 2017

The limit specified in 80CCE restricting the deduction to Rs. 1,50,000/- applies only to 80C, 80CCC & 80CCD(1). The deduction of Rs. 50,000 is specified in 80CCD(1B). Thus it is outside the limit of Rs. 1,50,000/-. So you can avail your contribution to the extent of Rs. 50,000/- separately under 80CCD(1B)

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(Guest)

Sec. 80CCD(1B) extra deduction = 50000/-

Tony John (Chartered Accountant) (6085 Points)
Replied 18 February 2017

It is better to claim deduction u/s 80CCD(1B) first, and to then claim the balance u/s 80C to avail maximum benefit

parvesh khapra (3 Points)
Replied 18 February 2017

Thank you very much sir

mohd mazher ullah khan (student) (31 Points)
Replied 18 February 2017

yoU can claim

manoj (student) (5205 Points)
Replied 20 February 2017

YOU CAN CLAIM

PRAVESH KUMAR (accountant) (24 Points)
Replied 20 February 2017

You cannot claim, BCOS the contribution made by the employer I.e. Govt. has not been included in your income. if something doesn't form part of your income, u can't claim deduction on it.