Deduction under nps

This query is : Resolved

MD. MASFIQUAL HUSSAIN (Querist)
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27 February 2018 1.I am a State Govt. employee & contributed Rs.74,000/- annually from my salary to the NPS account (Tire 1) i.e. 10% of salary (Basic + DA) for the FY 2017-18
2.My employer also contributed Rs.74,000/- annually to my NPS account (Tire 1) i.e. 10% of salary (Basic + DA) for the FY 2017-18
3.Now how much can I deduct U/S 80 CCD (1),80 CCD (2) & 80 CCD (1B) respectively for the FY 2017-18?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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27 February 2018 You can claim your contribution of RS 74000 in 80CCD (1), Employer contribution of RS 74000 in 80CCD (2). Since the contribution is less than RS.1.50 lacs, deduction u/s 80CCD(1B) is not available

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