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NpS tier 1 deduction

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721 Points Posted on 10 December 2020
I invest 35,000 in lic premium.

if I put 165000 in nps tier 1, will I get total deduction of Rs. 2 lakh ?

which is the relevant section in addition to 80 C?
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On 10 December 2020 at 13:44 Report
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Accountant
3662 Points Posted on 10 December 2020
You can claim full deduction of Rs. 200000

U/s 80CCD (1) - 115000
U/s 80CCD (1B) - 50000

U/s 80C - 35000

What is your policy sum assured ?
9 Reply
On 10 December 2020 at 20:30
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721 Points Posted on 10 December 2020
Thanks a lot.

no issue on lic policy premium
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On 10 December 2020 at 21:01
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Accountant
3662 Points Posted on 10 December 2020
Deduction of LIC premium,

Premium must less than 10% of sum assured
9 Reply
On 10 December 2020 at 22:08
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721 Points Posted on 10 December 2020
Yes. correct. thanks a lot.

it is less than 10 %of sum assured in my case.
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On 10 December 2020 at 22:23
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Accountant
3662 Points Posted on 10 December 2020
Ok....
9 Reply
On 10 December 2020 at 23:05


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