Regarding under section 80CCD(1B)

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)?
Replies (4)
Quick Summary
This discussion clarifies the rules around claiming tax deductions under Section 80CCD(1B) of the Income Tax Act. It explains that you cannot claim an additional deduction under 80CCD(1B) for the same amount already claimed under Section 80CCD(1). The proviso to 80CCD(1B) explicitly states that no deduction is allowed if the amount has already been claimed under sub-section (1). Therefore, you cannot split your NPS contribution to claim part under 80CCD(1) and the remainder under 80CCD(1B) if the total exceeds the 80CCD(1) limit.

No, you cannot claim additionally. 

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

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)

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 .

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register