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80ccd 1b

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1 Points Posted on 05 November 2018
can we claim the 10% amt contributed through salary to NPS up to 50000 under this section
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On 05 November 2018 at 10:56 Report
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Assistant Manager - Accounts
1432 Points Posted on 05 November 2018

@ AshokToor

Section  80CCD (1b) allows an additional dedution of upto Rs. 50000/- for the deposit made by tax payer into their NPS Account.

As per Section 80CCD (1) allows deduction of 10% in case of an employee (Salaried Person) or 150000/- whichever is less.

 

Thanks & Regards

Piyush Tanwar

Semi Qualified CA

9717468521

 

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On 05 November 2018 at 11:22
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TDS Preparer
1464 Points Posted on 05 November 2018
Yes. If your 80c limit exceeds you can move your NPS contribution to 80ccd(1b)
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On 05 November 2018 at 12:20
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Student CA Final
12692 Points Posted on 05 November 2018
Dear Ashok,

Sec 80CCD (1b) can be claimed up to max of Rs. 50,000/- only when employee has not claimed deduction under section 80CCD (1) and it's limit is above Rs. 1,50,000/-.
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On 05 November 2018 at 14:27


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