Deduction under section 80CCD(1B)

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18 Points Posted on 24 August 2020
If I have utilised entire 150000 in 80C and I wish to claim deduction of extra 50000 in Sec 80CCD(1B), Can I directly take 80CCD(1B)

Kindly do me a needful help.
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On 24 August 2020 at 16:47 Report
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This discussion clarifies that you can claim an additional £50,000 deduction under Section 80CCD(1B) even if you've already utilised the full £150,000 limit under Section 80C. This extra deduction is specifically for National Pension System (NPS) contributions and is independent of the 80C limit. The NPS contribution itself is capped at 10% of your salary.

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Tax and Business Consultant
11616 Points Posted on 24 August 2020
Yes, you can do so.....can directly take 80CCD(1B) Deduction of 50,000/- and use 80C limit for others..
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On 24 August 2020 at 18:41
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18 Points Posted on 24 August 2020
This subsection is independent of subsection 1
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On 24 August 2020 at 18:43
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Proprietor of M/s Vanamala and Co
972 Points Posted on 25 August 2020
Yes it is independent. it is For NPS ..how ever NPS contribution is limited to 10% of salary.
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On 25 August 2020 at 03:21
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18 Points Posted on 25 August 2020
Ok sir thank you so much
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On 25 August 2020 at 08:48

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