My employer defines an amount as part of the compensation package and the individual employees can define various heads under which this bigger amount is to be apportioned into. I have specified certain amount as contribution to NPS under 80CCD(2). This amount has exceeded the 10% of the salary. I understand this amount is technically a contribution made by the employer. Is it valid to consider the excess as taxpayer's contribution under 80CCD(1B)?
Thanks.
No. The condition for deduction is:: it should be employee's contribution.
Yes, 80CCD(1B) is for individual taxpayers. I defined the contribution amount under 80CCD(2) with my employer. Had I designed my compensation properly, the amount in excess of 10% of my salary would have come to me (through different head) and then I could have invested under 80CCD(1B). Having missed that, is it okay to file returns with the excess amount under 80CCD(1B)?
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