Deduction 80C-Atal Pension Yojana

This query is : Resolved

manisha (Querist)
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21 May 2022 Sir,

Can employee claim deduction u/s 80C contribution for Atal Pension Yojana which is in the name of his wife.

Payment was done from the bank to atal pension Yojana which is in the name of his wife(single account) but wife not filing income tax return.

Saurabh Anokhchand Jain

Saurabh Anokhchand Jain (Expert)
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27 May 2022 Contributions to Atal Pension Yojana (APY) are eligible for the same tax benefits as the NPS. This means that the contributions can be claimed under Section 80CCD (1B). The current limit for Section 80CCD (1B) is Rs 50,000, over and above the Rs 1.5 lakh limit under Section 80C. You cannot get a tax benefits by investing in the name of your spouse under Section 80 CCD.