My PPF contribution and NSC is more than Rs 160000. and my NPS 10% contribution is Rs 40000.
so may I take additional benefit of NPS u/s 80 CCD(1B)????
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80 CCD(1B) regarding NPS additional tax benefit
Replies (8)
yes you can take the benefit
no sir you can not take the benefits of ppf and nsc contribution in section 80CCD(1)B reason being ppf and nsc contribution is under section
80c and limit for section 80c is upto 150000 rs only
and under section 80CCD(1)B limit prescibed by the act is upto 50000 rs or 10 percent of the salary. it is not a open section for every one to contibute in ppf or any other investmen and claim it to other section in income tax act every section has limit to claim the deduction.
not clear bro.. my question is that may I take deductions of NPS rs 40000 u/s 80CCD(1B)
yes u can take deduction 40000 rs u/s 80CCD(1B) but not exceed 50000 rs .
plz clear 80ccd(1b)
sir pls read the previous msgs it would be clear your doubts
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