If a person working in State government services he want to maximize his saving by inverst and declear ITR in fashion.
Can he claim the deduction of NPS amount under 80cc2b if the same is deducted from salary by employer.
i.e
if he wants to save 2lac and declear his saving in such a manner
for 1.5lac as a 80C limit by ( he invest
60000 by ELSS MF,
40000 by LIC,
20000 by PPF
Employer has deducted total Rs.86000 from salary and deposit NPS tier-1 account.
So he split NPS amount in (50000+ 86000) and used part of Rs36000 in 80C
RS 50000 in 80CC2B
for total savings of 2 lac.
Please comments if possible with ITR rules and reference is given any Where???
Though it is possible to get the deduction of employee's contribution in either of the section, be 80C or 80CCD(b1), and not simultaneously in both; but DDO/s have no such instructions. So, without proper guidance available to them its difficult to convince them.
Well, by filing ITR, assesses can claim the deductions.
CAclubindia
