23 February 2020
Is splitting of contribution made under 80ccd 1 allowable and adjustable in 80ccd(1b). For eg for 80C i.e LIC premium, PF, mutual fund etc. Amounts to 140000 and 80ccd1 amt i.e contrbution of 10% of salary to nps is Rs 40000/-. Can deduction be claimed like this 80c 140000 80ccd1 10000 thus total 150000 and under 80ccd( 1b) remaining rs. 40000/-. Is it correct. Is there any clrificatiom frm Income tax deppt. Pl tell.....
CAclubindia
