Additional deduction under section 80CCD(1B)

Qualification for additional deduction.

Eligibility criteria is : Pension scheme notified by Central Government


Section 80CCD(1B) specifically deals with contributions made by an individual (employee or self-employed) to pension schemes as notified by the central government. This section provides an additional deduction of Rs 50,000 over and above the 80C limit of Rs 1.5 lakh