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80CCD(1B)

jayarathinam (assistant) (51 Points)

17 February 2018

State Govt Employee - regular pension scheme - eligibility for dedn Rs.50000

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9 Replies

Ankur Jain (2 Points)
Replied 17 February 2018

as i think he is eligible for deduction of 50000 irrespective of deduction under 80C

raja sekar (1435 Points)
Replied 17 February 2018

Regular Pension Scheme- do you mean GPF of tamilnadu state govt? If yes you are not eligible to deduct u/s 80ccd1b

1 Like

Pranab Banerjee (Software Maker & Income Tax Practisioner) (6542 Points)
Replied 17 February 2018

The Income Tax New Section 80CCD(1B) is a separate Pension Scheme which amounts out of 1.5 Lakh in U/s 80C. This Pension Scheme is not related to employees CPF ( Contributory Pension Fund) The Employees Contributory Pension Fund start w.e.f. 1/4/2004.

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raja sekar (1435 Points)
Replied 17 February 2018

Dear Pranab sir
CPS or Contributory Pension Scheme of Tamilnadu is equivalent to NPS of Central government. If an assessee who falls under CPS scheme can deduct their contribution towards CPS u/s 80ccd(1b) if all 80c deductions is more than 1.5 lakhs.

1 Like

Manoj Kumar Burnwal (3 Points)
Replied 15 November 2019

It means employee of central govt of old pension scheme (who joined before 01/01/2004) cannot claim deduction u/s 80CCD(1B) despite his contribution to NPS

kumar rayappan (6 Points)
Replied 09 June 2023

sir,

employee contribution of cps is eligible for 80c and 80ccd(1B)?.That is ( my cps contribution Rs 200000 =10% of pay +10% of DA) can I deduct Rs 150000 in 80c and Rs 50000 in 80ccd(1B) sir?

kumar rayappan (6 Points)
Replied 17 June 2023

no.,CPS or Contributory Pension Scheme of Tamilnadu is equivalent to NPS of Central government. If an assessee who falls under CPS scheme can deduct their contribution towards CPS u/s 80ccd(1b) if all 80c deductions is more than 1.5 lakhs wrong statement.

you can deduct in 80c/80ccd(1) or 80ccd(1B) .