80 ccd(1B)

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jay (Querist)
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04 October 2020 Principal for home loan -90000
PPF-10000
LIC-50000
Employee deduction for NPS-60000

How much deduction can be claimed under 80c and 80CCCd(1B),

PURUSOTTAM PANDA

PURUSOTTAM PANDA (Expert)
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05 October 2020 You can claim INR 1,50,000.00 u/s 80C and INR 50,000.00 u/s 80CCD(1B), subject to the fulfilment of the conditions prescribed for claiming Premium Paid on life insurance policies.

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jay

jay (Querist)
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05 October 2020 question is wether additional Rs.50000 is required for claiming 80ccd(1B) or NPS deducted by employer can be considered under 80CCD(1B)

PURUSOTTAM PANDA

PURUSOTTAM PANDA (Expert)
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05 October 2020 There is no requirement of additional contribution. Since you have exhausted 80C limit, it is perfect tax planning to consider your contribution towards NPS u/s 80CCD(1B) subject to a maximum of INR 50,000.00.

That is why I have answered your question in a straight forward manner, but it seems that you misunderstood the answer. Now, I think your doubt will be resolved.

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