Query regarding NPS under section 80CCD (2)
This query is : Resolved
Rajesh2345
(Querist)
15 January 2020
Hi,
I am taking deduction in full 1.5 lakhs under section 80C.
I am also taking deduction of Rs 50,000 under section 80CCD(1b) which is additional contribution by individual in NPS.
I have query regarding deductions on NPS under section 80CCD (2).
Can deduction by employer for NPS up to 10% of Basic under section 80CCD(2) be over and above total deduction of 2 Lakhs as stated earlier ?
thanks.
I am taking deduction in full 1.5 lakhs under section 80C.
I am also taking deduction of Rs 50,000 under section 80CCD(1b) which is additional contribution by individual in NPS.
I have query regarding deductions on NPS under section 80CCD (2).
Can deduction by employer for NPS up to 10% of Basic under section 80CCD(2) be over and above total deduction of 2 Lakhs as stated earlier ?
thanks.
Amol S Joglekar
(Expert)
16 January 2020
Oh! Although may not be the intention of the section, but yes..... you have a valid point. One can claim 80CCD(1B) 50,000 + 80CCD(2).. as does not exceed 10% of salary etc.
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