WHAT SECTION 80CCD(2) DEALS WITH

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Section 80CCD(2) allows tax deductions for employer contributions made towards the National Pension System (NPS) or Atal Pension Yojana. If this employer contribution is already included as part of your salary, you can still claim the deduction. The advice given is to add this amount back to your gross salary and then claim it as a deduction, ensuring you benefit from the tax savings.

raghavendra b

raghavendra b (Querist)

27 December 2023 DEAR SIR,

SECTION 80CCD(2) DEALS WITH DEDUCTIONS CLAIM AGAINST EMPLOYER"S CONTRIBUTION TOWARDS NPS OR ATAL PENSION YOJANA. IF EMPLOYER"S CONTRIBUTION PART OF THE SALARY THEN COULD CLAIM THE DEDUCTIONS UNLESS SHOULD ADD BACK TO THE GROSS SALARY AND DEDUCT.

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

28 December 2023 Yes, add back to salary and claim deduction.

raghavendra b

raghavendra b (Querist)

28 December 2023 THANK YOU SIR,

HERE IRRESPECTIVE OF GROSS SALARY, EMPLOYER"S CONTRIBUTIONS AND EMPLOYEE' CONTRIBUTIONS CLAIMING DEDUCTIONS U/S 80C AND 80CC(1B) AND FILING RETURNS.

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

28 December 2023 You are welcome..
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