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NPS deduction limit
₹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?
Replies (4)
Quick Summary
Yes, you are right.
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?
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?
Yes, right. Just ensure that the 80ccd(1) is within the 80c limit of ₹1.5 lacs.
Yes, Rs. 50,000 is the additional NPS deduction allowed u/s 80CCD(1B)
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