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Explanation about 80CCD(1B)

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63 Points Posted on 18 February 2022
Can we claim NPS Seperately in U/s 80CCD(1B) and what is the limit of this Section.
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On 18 February 2022 at 12:52 Report
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GST Practitioner & Accounts
15083 Points Posted on 18 February 2022
You NPS account is Tire1 or Tire2 ?.
24 Reply
On 18 February 2022 at 13:28
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 18 February 2022

Exclusive Tax Benefit to all NPS Subscribers u/s 80CCD (1B)

An additional deduction for investment up to Rs. 50,000 in NPS (Tier I account) is available exclusively to NPS subscribers under subsection 80CCD (1B). This is over and above the deduction of Rs. 1.5 lakh available under section 80C of Income Tax Act.

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On 18 February 2022 at 13:33
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12244 Points Posted on 18 February 2022
You can claim a maximum of 50k under 80ccd(1b) apart from the deduction of 100k claimed under 80ccd(1), subject to the condition that deductions cannot be claimed for same amount under 80ccd(1) and 80ccd(1b)
35 Reply
On 18 February 2022 at 14:24
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2 Points Posted on 23 February 2022
How to calculate nps amount 14% & 10% state govt employees fy 21-22
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On 23 February 2022 at 02:08
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63 Points Posted on 26 February 2022
If NPS Amount is >80K, and u/s 80C we have claim <1.5 Lacks, then can we adjust for 1.5 Lacks and remaining Amt I u/s 80CCD(1B).
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On 26 February 2022 at 21:17
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12244 Points Posted on 26 February 2022
Yes you can adjust..
35 Reply
On 26 February 2022 at 21:39
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63 Points Posted on 06 March 2022
Thanks.
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On 06 March 2022 at 14:59


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