My PPF contribution and NSC is more than Rs 160000. and my NPS 10% contribution is Rs 40000.
so may I take additional benefit of NPS u/s 80 CCD(1B)????
8 Replies
aditya sood
(practice as advocate)
(111 Points)
Replied 17 December 2017
no sir you can not take the benefits of ppf and nsc contribution in section 80CCD(1)B reason being ppf and nsc contribution is under section
aditya sood
(practice as advocate)
(111 Points)
Replied 17 December 2017
80c and limit for section 80c is upto 150000 rs only
aditya sood
(practice as advocate)
(111 Points)
Replied 17 December 2017
and under section 80CCD(1)B limit prescibed by the act is upto 50000 rs or 10 percent of the salary. it is not a open section for every one to contibute in ppf or any other investmen and claim it to other section in income tax act every section has limit to claim the deduction.
chetan mehadele
(30 Points)
Replied 18 December 2017
not clear bro.. my question is that may I take deductions of NPS rs 40000 u/s 80CCD(1B)
aditya sood
(practice as advocate)
(111 Points)
Replied 18 December 2017
yes u can take deduction 40000 rs u/s 80CCD(1B) but not exceed 50000 rs .
aditya sood
(practice as advocate)
(111 Points)
Replied 18 December 2017
sir pls read the previous msgs it would be clear your doubts
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