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Deduction under section 80CCD(1B)

271 views 4 replies

aman jha

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.

Replies (4)

Sagar Patel

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..

aman jha

18 Points Posted on 24 August 2020

This subsection is independent of subsection 1

CA Vanamala Phani Kumar

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.

aman jha

18 Points Posted on 25 August 2020

Ok sir thank you so much

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