Menu
About 80 ccd(1b)
Sir I am a govt. Employee .Iam NPS subscribers .my 10% (basic+D.A)share goes in NPS. I have complete my 150000
saving in ppf. My question is that can I avail my NPS saving under 80ccd(1b)to maximise that is 150000+50000 .my boss is saying that you can not avail this .please clarify this matter thank you
Replies (11)
Sir please confirm can I avail 80ccd(1b)or not.my boss is denied
Sir please confirm can I avail 80ccd(1b)or not.my boss is denied
The limit specified in 80CCE restricting the deduction to Rs. 1,50,000/- applies only to 80C, 80CCC & 80CCD(1). The deduction of Rs. 50,000 is specified in 80CCD(1B). Thus it is outside the limit of Rs. 1,50,000/-. So you can avail your contribution to the extent of Rs. 50,000/- separately under 80CCD(1B)
It is better to claim deduction u/s 80CCD(1B) first, and to then claim the balance u/s 80C to avail maximum benefit
Thank you very much sir
yoU can claim
YOU CAN CLAIM
You cannot claim, BCOS the contribution made by the employer I.e. Govt. has not been included in your income. if something doesn't form part of your income, u can't claim deduction on it.
80CCD(1) is employee contribution only Pravesh ji
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
