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NPS deduction limit

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CA
99 Points Posted on 11 August 2021
₹50,000 deduction under section 80CCD(1B) is in addition to the limit of 10% of the salary as mentioned under section 80CCD(1). Right?
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On 11 August 2021 at 12:01 Report
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CMA
13117 Points Posted on 11 August 2021

Yes, you are right.              

92 Reply
On 11 August 2021 at 14:14
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CA
99 Points Posted on 11 August 2021
Suppose,
Salary = 14,00,000
Deduction allowed under 80 CCD(1) = 1,40,000
Amount invested in NPS 1,70,000
Assessee claims both 80CCD(1) and 80CCD(1B)
The whole amount 1,70,000 is allowed as deduction. Right?
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On 11 August 2021 at 14:47
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CMA
13117 Points Posted on 11 August 2021

Yes, right. Just ensure that the 80ccd(1) is within the 80c limit of ₹1.5 lacs.

92 Reply
On 11 August 2021 at 15:02
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Chartered Accountant
5010 Points Posted on 11 August 2021

Yes, Rs. 50,000 is the additional NPS deduction allowed u/s 80CCD(1B)

8 Reply
On 11 August 2021 at 15:04


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