Nps contribution related

Tax queries 250 views 4 replies

Abhijit Ghosh

618 Points Joined June 2010

Dear Valued Members,

I have contributed Rs. 5000/- in NPS through online Netbanking on 27/03/2017 which has been deducted from my SBI a/c same day on 27/03/2017 but NPS statement showing it credited on 03/04/2017, may be the reason for reconciliation time period.

My query is can I avail deduction benefit for F.Y. 2016-17 as it has been already deducted from my a/c on 27/03/2017 or I have to claim deduction in next f.y. year as it is reflecting in statement on 03rd April-17. Please guide me.

Advance thanks to all.

Replies (4)

Hemant Rustagi

10 Points Joined May 2017

you can take the deduction benefit for my 2017-18......regards

Vraj Shah

Gotri

23 Points Joined April 2017

But there is no any specification relating to date of deposit in section 80c & 80ccc... Thus it also can be availed in current py also..

Poltu Ghosh

Job

1865 Points Joined April 2017

You can claim the benefit only in the year of payment not in the year of credit. Unlike PPF there is no condition of allowability of deduction only on credit to statement. The contribution receipt that the NPS provides you on deposit mentions the date of deposit of contribution. You will find the date of contribution on receipt as 27.03.17 do you have to claim deduction only in FY 2016-17 and not in subsequent year.