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Regarding under section 80CCD(1B)

RAJ PAL (AUDITOR) (33 Points)

19 December 2020

My savings under section 80C are 120000.00 and statuary contributions towards NPS ( 10% of Basic plus DA ) is 70000.00
My question is
Can i claim additional deduction of Rs 40000.00 under sanction 80CCD(1B)?

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4 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 19 December 2020

No, you cannot claim additionally.

RAJ PAL (AUDITOR) (33 Points)
Replied 19 December 2020

Then how can i avail additional deduction of rs. 50000.00 under section 80CCD(1b) ?

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 19 December 2020

Sir if you are claiming ded u/s 80CCD(1), you cannot avail 80CCD(1B) for the same amount.

As per proviso to section 80CCD(1B)-Provided that no deduction under this sub-section shall be allowed in respect of the amount on which a deduction has been claimed and allowed under sub-section (1)

RAJ PAL (AUDITOR) (33 Points)
Replied 19 December 2020

Sir My own share to nps 70000.00. i just want to know can i claim 30000.00 in u/s 80CCD1 and remaining amount of rs 40000.00 in 80CCD(1b) ? As my total savings are rs 190000.00 .