I.t clarification u/s 80ccd 1( b )

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Sir, Extra deduction Rs 50,000/- u/s 80CCD 1( B ) towards CPS ( NPS ) is eligible for State Government Employees ?. please clarify about this matter.
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Yes. The New Pension Scheme was initially introduced by the Indian government for all individuals employed with the government as well as private employees. However, from May 2009 its scope was broadened to be made available to all Indian citizens.

Income tax laws allow tax deduction for contributions to NPS under three sections. First, the employee’s contribution under Section 80CCD(1). This deduction is under the overall Rs 1.5 lakh limit under Section 80C. Second, up to 10% of the basic salary put into the NPS by the company on behalf of the employee is deductible without any limit. The third is the new Section 80CCD(1B) under which a taxpayer can claim deduction for voluntary contribution of up to Rs 50,000. 
 

Read more at:
https://economictimes.indiatimes.com/articleshow/51952963.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


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